• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

IDEX Biometrics Secures $9.9M Through Private Placement

November 18, 2019

IDEX Biometrics Secures $9.9m Through Private Placement

IDEX Biometrics has obtained subscriptions for 120 million new shares in a private placement, the company has announced. The shares were priced at NOK 0.75 each, allowing the company to raise NOK 90.0 million, or about $9.9 million USD, in total.

In pursuing the private placement, IDEX’s Board of Directors decided to waive existing shareholders’ preferential right to subscribe to new shares because the need to secure timely funding was in the best interest of the company and all shareholders. The private placement went to eight shareholders.

“This fundraising will meet the company’s capital requirements and the board expects, based on current market conditions, that these funds will take the company through to profitability,” IDEX asserted in a statement.

The company went on to highlight its unique position as a provider of flexible, off-chip fingerprint sensor technology, particularly with respect to biometric payment cards and biometric smart cards for access control. IDEX says that it expects volume shipments in both of these markets to occur in 2020.

The new private placement will be undertaken in two tranches. An initial tranche of 55.4 million shares “will be issued as soon as practical”, while a second tranche of 64.6 million shares will be subject to approval at an extraordinary general meeting which IDEX has tentatively scheduled for December 12th of this year.

–

November 18, 2019 – by Alex Perala

Related News

  • IDEX Biometrics Shares to Trade on NasdaqIDEX Biometrics Shares to Trade on Nasdaq
  • IDEX Biometrics Board Declines Dividend but Expresses Optimism in Annual ReportIDEX Biometrics Board Declines Dividend but Expresses Optimism in Annual Report
  • IDEX Brings on New CEO to Drive Commercial GrowthIDEX Brings on New CEO to Drive Commercial Growth
  • IDEX Highlights Payment Card Progress in Q3 UpdateIDEX Highlights Payment Card Progress in Q3 Update
  • IDEX Biometrics Gearing Up to Fulfill Massive Fingerprint Tech OrderIDEX Biometrics Gearing Up to Fulfill Massive Fingerprint Tech Order
  • IDEX Biometrics to Post Q2 Results on August 15IDEX Biometrics to Post Q2 Results on August 15

Filed Under: News, Stocks Tagged With: Biometric, biometric access control, biometric payment cards, biometric smart cards, biometric stocks, biometrics, corporate news, IDEX, IDEX Biometrics, private placements

Primary Sidebar

Identity is Shaping Air Travel – Time to Invest

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Another Big BIPA Ruling, Paris Olympics Legislation, NEOM Airlines, and More: Identity News Digest
  • FacePhi Co-founds Social Impact Project With Spanish University, Investment Group
  • The NSA and CISA Highlight On-device Privacy: Identity News Digest
  • On-demand Webinar: Building a Passwordless World
  • Webinar: Building a Passwordless World with Prove’s Bill Fish

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics