authID prices $1.35M private placement of convertible debentures

authID Inc. (NASDAQ: AUID) has entered into a definitive agreement to sell Senior Secured Convertible Debentures and warrants to purchase shares of its common stock through a private placement offering, according to a company statement.

The aggregate gross proceeds from the offering are expected to be approximately $1,350,000 before placement agent fees and other expenses. The closing is expected to occur on or about October 6, 2026, subject to customary closing conditions.

The debentures are convertible into common stock at the option of each holder at a price of $0.386 per share. The warrants will carry an exercise price of $0.50 per share. Conversion of the debentures and the issuance and exercise of the warrants remain subject to compliance with applicable securities laws, Nasdaq rules, and stockholder approval prior to any exercise of the warrants.

Separately, holders of Senior Secured Debentures issued in April 2026 agreed to extend the maturity date of those debentures to February 28, 2027.

Madison Global Partners, LLC served as a non-exclusive placement agent for the offering. The company said it intends to use net proceeds for working capital and general corporate purposes.

The securities are being offered pursuant to Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D and have not been registered under the Securities Act or applicable state securities laws. The company has agreed to file one or more registration statements with the SEC covering the resale of shares issuable upon exercise of the warrants and conversion of the debentures.

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