authID.ai (IPSIDY INC.)
(Note: This is NOT an IPO. This is an uplift – also known as an “uplisting” – to the NASDAQ from the OTCQB tier of the OTC Market Group, Inc. IPOScoop has NO CALL on this offering because it is NOT an IPO; technically, this deal is a secondary offering.)
***Note: The company intends to change its name to “authID.ai” from Ipsidy, Inc.
authID.ai (Ipsidy Inc.) provides secure, biometric, identity verification, FIDO2 passwordless login and strong customer authentication delivered by an easy to integrate Identity as a Service (IDaaS) platform. Our mission is to eliminate all passwords and to be the preferred global platform for biometric identity authentication. Our vision is to enable every organization to “Recognise Your Customer” instantly, without friction or loss of privacy, powered by the most sophisticated biometric and artificial intelligence technologies.
We have signed and are pursuing various channel partners that play a key role in their respective verticals, such as Temenos, a digital technology provider for banks around the world; Atos, a global leader in digital transformation, and Inetum (formerly IECISA gfi) which supports telecom, financial services and other industries in 26 countries. We are also pursuing additional strategic partners, including payment processors, system integrators and core banking software suppliers.
Our subsidiaries include MultiPay S.A.S. in Colombia, CardsPlus Pty Ltd. in South Africa, Ipsidy Enterprises Limited in the United Kingdom, and Ipsidy Peru, SAC, in Peru.
(Note: authID.ai (Ipsidy) announced the pricing of its NASDAQ uplift offering on Aug. 23, 2021, and said the stock would start trading on the NASDAQ on Tuesday, Aug. 24. Here are the pricing terms: A total of 1,428,571 shares were priced at $7 – below the $7.98 close of its stock on the OTCQB – to raise $10 million. The number of shares priced was cut by about 40,000 from the terms of its latest prospectus. authID.ai (Ipsidy) amended its prospectus on Aug. 20, 2021, by cutting the number of shares to 1,468,429 – down from 2.08 million shares in its S-1/A filing on Aug. 9, 2021 – and by cutting the assumed offering price to $6.81 – down from $9.63 in the Aug. 9th filing with the SEC. The last reported sale price of authID.ai (Ipsidy) common stock was $6.81 on Aug. 19, 2021, on the OTCQB tier of the OTC Market Group. The deal was initially set for pricing on Aug. 19, 2021. On Aug. 9, 2021, authID.ai (Ipsidy) changed the terms of its NASDAQ uplift by raising the number of shares to about 2.08 million, up from 1.8 million shares, and cutting the assumed offering price to $9.63 from $11.03 in an S-1/A filing dated Aug. 9, 2021.)
|Industry:||SERVICES - PREPACKAGED SOFTWARE|
|Address||670 Long Beach Boulevard Long Beach, New York 11561|
|View Prospectus:||authID.ai (IPSIDY INC.)|
|Revenues||$1.94 mil (last 12 months)|
|Net Income||$-9.95 mil (last 12 months)|
|Price range||$7.00 - $7.00|
|Est. $ Volume||$10.0 mil|
|Manager / Joint Managers||ThinkEquity (a division of Fordham Financial Management)|
|Expected To Trade:||8/24/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|