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T Stamp Inc develops and markets identity authentication software solutions for enterprise partners and peer-to-peer markets. The company is engaged in developing proprietary artificial intelligence-powered solutions; researching and leveraging biometric science, cryptography, and data mining to deliver insightful identity & trust predictions while identifying and defending against fraudulent identity attacks, protecting sensitive user information, and extending the reach of digital services through accessibility.
Trust Stamp (Nasdaq: IDAI) announced a securities purchase agreement with an institutional investor to sell 1,573,330 shares of common stock in a registered direct offering at a price of $3.30 per share. This offering, alongside a concurrent private placement of unregistered warrants, is projected to generate $5.2 million in gross proceeds before expenses. The offering is scheduled to close around April 18, 2023, pending customary closing conditions. The common stock will be offered under a recently effective shelf registration statement. Maxim Group LLC is acting as the placement agent for the transaction. Trust Stamp specializes in AI-driven identity services, aiming to enhance privacy and reduce fraud across various sectors.
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