authID Announces Private Placement Offering
News related to:authID Inc · 4 min read
DENVER, Oct. 05, 2026 /CourierPR/ -- authID Inc., a leading provider of biometric identity verification and authentication solutions, today announced a private placement offering to raise approximately $1,350,000 through the issuance of Senior Secured Convertible Debentures (the "Debentures") and Warrants to purchase shares of the Company's common stock (the "Warrants"). The Debentures are convertible into Common Stock at a price of $0.386, and the Warrants will have an exercise price of $0.50. The conversion of the Debentures and issuance and exercise of the Warrants are subject to compliance with applicable securities laws, Nasdaq rules, and the Company's governing documents, including stockholder approval prior to any exercise of the Warrants.
In addition, holders of Senior Secured Debentures issued in April 2026 agreed to extend the maturity date of their debentures to February 28, 2027. This extension allows the company to utilize the funds raised from the private placement to cover working capital and general corporate purposes, as stated in the press release.
The private placement offering is expected to close on or about October 6, 2026, subject to customary closing conditions. Madison Global Partners, LLC acted as a non-exclusive Placement Agent in connection with the offering, providing strategic guidance throughout the transaction. The involvement of Madison Global Partners, LLC reflects authID's commitment to leveraging experienced financial partners to support its growth initiatives and long-term value creation strategy.
The aggregate gross proceeds from the Offering are expected to be approximately $1,350,000 before deducting placement agent fees and other Offering expenses. The closing of the Offering is expected to occur commencing on or about October 6, 2026, subject to the satisfaction of customary closing conditions.
In addition to its placement activities, Madison Global Partners, LLC delivers a range of advisory and investment services, including capital markets advisory, transaction structuring, and strategic financial consulting. Their involvement reflects the Company's commitment to leveraging experienced financial partners to support its growth initiatives and long-term value creation strategy.
authID intends to use the net proceeds for working capital and general corporate purposes. The Debentures and the Warrants described above are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder. The Debentures, the Warrants, the Conversion Shares and the shares of common stock issuable upon exercise of the Warrants and Placement Agent Warrants have not been registered under the Securities Act or applicable state securities laws. Accordingly, these securities may not be reoffered or resold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
In connection with the Offering, the parties also entered into a registration rights agreement, pursuant to which the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock issuable upon the exercise of the Warrants, issuable upon Conversion of the Conversion Shares and the Placement Agent Warrants.
authID intends to use the net proceeds for working capital and general corporate purposes. The Debentures and the Warrants described above are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder. The Debentures, the Warrants, the Conversion Shares and the shares of common stock issuable upon exercise of the Warrants and Placement Agent Warrants have not been registered under the Securities Act or applicable state securities laws. Accordingly, these securities may not be reoffered or resold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
authID intends to use the net proceeds for working capital and general corporate purposes. The Debentures and the Warrants described above are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder. The Debentures, the Warrants, the Conversion Shares and the shares of common stock issuable upon exercise of the Warrants and Placement Agent Warrants have not been registered under the Securities Act or applicable state securities laws. Accordingly, these securities may not be reoffered or resold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
authID intends to use the net proceeds for working capital and general corporate purposes. The Debentures and the Warrants described above are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder. The Debentures, the Warrants, the Conversion Shares and the shares of common stock issuable upon exercise of the Warrants and Placement Agent Warrants have not been registered under the Securities Act or applicable state securities laws. Accordingly, these securities may not be reoffered or resold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
authID intends to use the net proceeds for working capital and general corporate purposes. The Debentures and the Warrants described above are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder.