Imageware Secures $2.5 Million Bridge Financing as it Continues to Review Strategic Options

Rhea-AI Summary

Imageware (OTCQB: IWSY) announced a bridge facility agreement with its largest shareholder, securing $2.5 million in potential capital. This funding aims to assist the company in evaluating and pursuing strategic options for future growth. CEO Kristin Taylor expressed optimism about the agreement, highlighting its role in positioning the company for long-term success. Imageware specializes in biometric identification and authentication solutions, offering cloud-based services to enhance security for various sectors.

Positive

• Secured $2.5 million bridge financing to support strategic evaluation.
• CEO expresses optimism about funding positioning for long-term success.

Negative

• None.

SAN DIEGO, Jan. 4, 2022 /PRNewswire/ -- Imageware® (OTCQB: IWSY) ("Imageware" or "the Company"), a leader in biometric identification and authentication solutions, today announced  that it has entered into a bridge facility agreement (the "Agreement") with its largest shareholder. This new facility provides for an aggegate of $2.5 million of potential capital that will allow Imageware and its stakeholders to continue to evaluate and pursue a strategic path that will best position the Company for the future.

Commenting on the financing agreement, Kristin Taylor, Chair and CEO said, "This agreement is a positive step forward for our business as it provides additional funding in the short-term to ensure that we can reach the best long-term solution for our business. I am confident the steps we are taking now will position us well for years to come."

About Imageware®
Imageware identifies, verifies, and authenticates who people are, not just what keys and codes they have. Our Cloud-based, multimodal biometric solutions provide faster, accurate identification to better secure communities, data, and assets. Imageware solutions are trusted globally by government agencies, law enforcement, and private enterprises. Imageware: Identity with Biometric Certainty. For more information, please visit www.imageware.io.

Media Contact: 
Theresa Hernandez
Imageware
thernandez@imageware.io

Investor Relations:
Brian M. Prenoveau, CFA
MZ North America
+1-561-489-5315
brian.prenoveau@mzgroup.us

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SOURCE Imageware Systems, Inc.

FAQ

What is the significance of Imageware's $2.5 million bridge financing on January 4, 2022?

The $2.5 million bridge financing allows Imageware (IWSY) to explore strategic options for growth.

How does the bridge facility agreement affect Imageware's future?

It provides immediate funding, enabling Imageware to evaluate long-term strategies.

Who provided the bridge financing for Imageware?

The financing was provided by Imageware's largest shareholder.

What are Imageware's core business areas?

Imageware specializes in biometric identification and authentication solutions.