Trust Stamp Oversubscribes $5M Public Offering in Pursuit of Nasdaq Uplisting, and Files a 1-U Report with the SEC
Trust Stamp (OTCQX:IDAI) announced that it has stopped soliciting new investments for its Regulation CF offering, having received over $14.9M in signed subscription agreements. The offering was oversubscribed, and completed applications will be processed until reaching the $5M cap, with excess subscriptions refunded. Trust Stamp plans to initiate a PCAOB audit and has submitted a draft Regulation-A offering statement to the SEC, aiming for a Nasdaq uplisting. Continuous support from shareholders has been acknowledged, highlighting participation in prior funding rounds.
- Successfully raised over $14.9M in an oversubscribed Regulation CF offering.
- Plans for Nasdaq uplisting following successful PCAOB audit and SEC statement qualification.
- Strong shareholder support evidenced by high participation in funding rounds.
- None.
ATLANTA, GA / ACCESSWIRE / November 22, 2021 / Trust Stamp (OTCQX:IDAI, Euronext Growth:AIID ID), a global provider of AI-powered trust & identity services used across multiple sectors, has stopped soliciting new investments for its Regulation CF offering at 11:59 PT on November 19, after receiving in excess of
As the offering is over-subscribed, completed subscription applications will be closed in the order of their funding until total closings reach the
Based upon the successful raise, the Company has initiated a PCAOB audit update and submitted a draft Regulation-A offering statement to the SEC for comments. Upon completion of the audit, and qualification of the final offering statement by the SEC, the company will request uplisting to the Nasdaq Capital Market.
Trust Stamp CEO Gareth Genner comments: "Shareholders that invested in our oversubscribed Series A funding round at a
Following the Company's April 2021 application to list on the Nasdaq Capital Market, a number of steps (including this offering) have been taken to meet quantitative requirements to seek uplisting to Nasdaq. The Company executed a 5:1 stock split in August 2020, which served the purpose of increasing the OTCQX trading volume for the company's shares, and has recently welcomed two new Independent Non-Executive Board Directors with appointments effective on December 1st, to bring its board committee composition in line with Nasdaq requirements.
Satisfying qualitative and quantitative standards for Nasdaq cannot be guaranteed. However, The Company is committed to provide transparent updates on the progress of the up-listing application as they work with Nasdaq staff and the company's advisors.
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Gareth Genner, Chief Executive Officer
Nisha Naik, Executive VP of Communications
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.
LEGAL DISCLAIMER
The information in this press release 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. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. All investors should read the offering memorandums provided in conjunction with these offerings. Investments in Regulation CF offerings are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment.Trust Stamp has filed Form C that forms the Regulation CF Offering Statement with the SEC, a copy of which may be obtained from https:/investintruststamp.ai
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SOURCE: T Stamp Inc
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FAQ
What is the amount raised in Trust Stamp's recent Regulation CF offering?
What is the purpose of the funds raised by Trust Stamp?
How is Trust Stamp planning to achieve a Nasdaq uplisting?
What happens to excess subscriptions from the Regulation CF offering?
