T Stamp Inc Announces Regulation D (Reg D) Offering

Rhea-AI Summary

Trust Stamp has announced a combined $5 million funding round, including a private offering priced at $15.31 per share under US SEC Regulation D and a future crowdfunding offering under Regulation CF. The private offering is open to accredited investors and aims to close by May 31, 2021, with $1 million already pre-committed. The funds will support marketing initiatives and product development. Trust Stamp's CEO emphasized the growing demand for secure identity solutions in various sectors.

Positive

• Secured $1 million pre-commitment from an existing shareholder.
• Funding will enhance marketing initiatives and product development.

Negative

• Participation by FSH Capital in the Reg D offering raises concerns about related party transactions.
• Minimum price for Regulation CF is set at $22.58, which may deter some investors.

Trust Stamp announces the launch of a combined US$5 million Private Offering and Crowdfunding round

ATLANTA, GA / ACCESSWIRE / March 15, 2021 / Trust Stamp (Euronext Growth: AIID ID), a global provider of AI-powered identity services for use in multiple sectors, is pleased to announce the launch of a $5 million round of funding comprised of a private offering under the US SEC Regulation D, priced at $15.31 per share effective immediately, in combination with a US SEC Regulation CF offering planned to commence in early May.

The Regulation D (Reg D) offering is restricted to accredited investors and a limited number of non-US investors. A letter to shareholders will shortly be circulated setting out further details in relation to possible participation in the Reg D offering, and will be available on the Company's website: Investors | Trust Stamp. The Company currently has $1 million pre-committed by an existing shareholder and expects to close the Reg D offering by 31^st May 2021.

The participation by FSH Capital, a substantial shareholder in the Company, in the Reg D offering is deemed to be a related party transaction pursuant to rule 5.18 of the Euronext Growth Dublin rules. The Directors, having consulted with the Company's Euronext Growth Adviser, confirms the terms of FSH Capital's participation to be fair and reasonable insofar as Shareholders are concerned.

The Regulation CF (Reg CF) offering is expected to be launched after the filing of the Company's FY2020 audited full year results with the SEC and Euronext Dublin, expected on or around 30^th April 2021 and will be offered with priority to existing investors. The Company's Board of Directors have determined a minimum Regulation CF offering price of $22.58 per share, but the set price will be evaluated closer to commencement of the offering.

The proceeds raised will be used to further strengthen the Company's sales and marketing initiatives and to accelerate productisation of its intellectual property to meet commercial opportunities.

Gareth Genner, CEO and Co-Founder of Trust Stamp commented: "There has been a massive growth in addressable need as a result of changing consumer expectations. The demand for secure identity solutions has accelerated with the rise in online banking, contactless payments, telemedicine, and more. Trust Stamp's core technology has the potential to address pressing cross-industry needs involving digital operations, and the growth capital sought in this round will enable us to further our market penetration."

Enquiries

Trust Stamp Tel: +356 27112981

Gareth Genner, Chief Executive Officer

Nisha Naik, Executive VP of Communications

Davy (Euronext Growth Advisor) Tel: +353 1 679 6363

Fergal Meegan / Barry Murphy

Powerscourt (Financial Public Relations) Tel: +353 87 236 5973

Eavan Gannon Email: Truststamp@powerscourt-group.com

About Trust Stamp

Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organisations with biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.

Located in six countries across North America, Europe and Asia, and listed on Euronext Growth in Dublin, Trust Stamp was founded in 2016 by Gareth Genner and Andrew Gowasack. The company now employs over 60 people with flagship customers including Mastercard International, Synchrony Financial, and FIS.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: T Stamp Inc

View source version on accesswire.com:
https://www.accesswire.com/635405/T-Stamp-Inc-Announces-Regulation-D-Reg-D-Offering

FAQ

What is Trust Stamp's recent funding announcement about?

Trust Stamp announced a $5 million funding round, including a private offering and a future crowdfunding offering.

What is the price per share for Trust Stamp's Regulation D offering?

The Regulation D offering is priced at $15.31 per share.

How much has Trust Stamp pre-committed in its funding round?

Trust Stamp has secured $1 million pre-commitment from an existing shareholder.

What are the expected uses of the funds raised by Trust Stamp?

Funds will be used to strengthen sales, marketing initiatives, and accelerate product development.

When is the expected closing date for Trust Stamp's Regulation D offering?

The Regulation D offering is expected to close by May 31, 2021.