Trust Stamp Files with SEC Ahead of Nasdaq Target

Rhea-AI Summary

Trust Stamp (OTCQX:IDAI, Euronext Growth: AIID ID) has filed Form 1-A with the SEC for a Regulation A offering, aimed at qualifying existing investors to exercise warrants from their H2 2021 funding round. This comes as part of the company’s strategic plan to uplist to Nasdaq, contingent upon meeting specific criteria, including a minimum $4 share price and sufficient trading volume. Trust Stamp has also completed a PCAOB audit to enhance its qualifications for national exchange listing, reflecting ongoing growth and ambitions for 2022.

Positive

• Filed Form 1-A with the SEC to qualify for Regulation A offering.
• Successful completion of a PCAOB audit for Nasdaq listing requirements.
• Movement towards uplisting to Nasdaq, potentially increasing visibility and liquidity.

Negative

• Uplist contingent on meeting stringent Nasdaq requirements, including share price and trading volume.
• No immediate capital can be raised until the SEC qualifies the Offering Statement.

The Company has filed Form 1-A to qualify an offering under Regulation A with the SEC, a copy of which may be obtained from Trust Stamp: Investors | Trust Stamp. Until qualification of the Form 1-A Offering Statement by the SEC: (1) no money or other consideration is being solicited, and if sent in response, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received; and (3) a person's indication of interest involves no obligation or commitment of any kind.

Trust Stamp files offering statement ahead of targeted Nasdaq listing

ATLANTA, GA / ACCESSWIRE / January 12, 2022 / Trust Stamp (OTCQX:IDAI, Euronext Growth: AIID ID), a global provider of AI-powered trust and identity services used across multiple sectors, today announces that it has filed Form 1-A (the "Offering Statement") with the Securities and Exchange Commission (the "SEC") to qualify the Regulation A offering in which existing investors will be able to exercise warrants purchased during the Company's H2 2021 round of funding, conducted from 25 August 2021 to 09 January 2022.

Previously announced on 07 January 2022 [here], Trust Stamp successfully completed a combined private and public round of funding, including one of the first oversubscribed US $5M Regulation CF offerings according to Dalmore Group. Each share issued in this round was paired with a warrant to purchase an additional share of Class A Common stock for US $4 in the Company's next Regulation A offering, resulting in the issuance of 1,376,016 warrants.

A letter to Shareholders setting out further details in relation to the exercise process will shortly be circulated and available on the Company's website: Investors | Trust Stamp. The offering will close at the earlier of one year from its qualification by the SEC, or Trust Stamp's receipt of the maximum offering amount.

Trust Stamp achieved company-wide growth in the previous year, continuing momentum to execute on strategic growth ambitions in 2022 which include their planned uplisting to Nasdaq from the OTC Markets. Trust Stamp CEO Gareth N. Genner highlighted key accomplishments in a reflection of 2021 [here].

The Company has completed a PCAOB audit update to meet the requirements for listing on a national exchange, following their initial filing of the draft Offering Statement on 19 November 2021 and receipt of notification that the SEC will consider qualification at the Company's request. Trust Stamp's application to have its Class A Common stock listed on the Nasdaq Capital Market under the symbol "IDAI" is dependent on Nasdaq's certification of the Form 8-A, to be filed concurrently with the qualification of this Offering Statement. Certification requires meeting qualitative and quantitative standards including a US $4 or higher closing bid price for the Company's stock and trailing 30-day average daily trading volume of 2,000 shares or higher.

Enquiries

Trust Stamp Email: Shareholders@truststamp.ai

Gareth Genner, Chief Executive Officer

Nisha Naik, Executive VP of Communications

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

Barry Murphy

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 organizations with advanced 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 seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 90 people.

Disclaimer

The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management's current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company's actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

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/683139/Trust-Stamp-Files-with-SEC-Ahead-of-Nasdaq-Target

FAQ

What is the latest development for Trust Stamp regarding SEC filings?

Trust Stamp filed Form 1-A with the SEC to qualify for a Regulation A offering.

What is the target stock exchange for Trust Stamp's uplisting?

Trust Stamp is targeting an uplisting to the Nasdaq Capital Market.

What are the conditions for Trust Stamp's uplisting to Nasdaq?

The uplisting depends on meeting a minimum share price of $4 and a trading volume of at least 2,000 shares daily.

What financial audit has Trust Stamp completed recently?

Trust Stamp completed a PCAOB audit update to meet national exchange listing requirements.

What can existing investors do with their warrants in Trust Stamp?

Existing investors can exercise warrants purchased during the H2 2021 funding round once the offering is qualified by the SEC.