Precise Biometrics Moves Forward with Private Placement

Precise Biometrics is officially giving notice of a private placement of new shares intended to help fund its acquisition of NexID Biometrics.

Precise Biometrics Moves Forward with Private Placement

In a statement, the company explained that the private placement will see 14,925,373 shares offered to “a group of qualified Swedish and international investors”. The shares are being offered at a subscription price of SEK 3.34 each, and will comprise about 4.1 percent of the companies share capital and votes.

The private placement will see the company raise SEK 50 million before costs. While that’s considerably higher than the SEK 32 million value of the NexID purchase, Precise Biometrics CEO Håkan Persson explained that the maneuver “ensures that we can maintain our financial position, which gives us opportunities to continue to develop the company.”

NexID specializes in anti-spoofing liveness detection software for fingerprint scanning. Together with Precise Biometrics’ biometric algorithm software, it could offer a substantial enhancement of the company’s offerings.

December 14, 2016 – by Alex Perala