authID.ai, which provides a biometric identity verification platform, announced terms for its Nasdaq IPO on Friday. The company, officially on file under the name Ipsidy Inc., is currently listed on the OTC markets under the symbol AUID.
The Long Beach, NY-based company plans to raise $20 million by offering 1.8 million shares, based on its last reported OTC price of $11.03. At that price, it would command a fully diluted market value of more than $300 million.
authID.ai (Ipsidy) was founded in 2011 and booked $2 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol AUID. ThinkEquity is the sole bookrunner on the deal. Deal timing was not disclosed.
The article Biometric service authID.ai sets terms for $20 million Nasdaq uplisting originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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