Nxt-ID, Inc. Announces Pricing of Public Offering
Post# of 63700
Posted On: 09/10/2014 6:50:08 AM
Nxt-ID, Inc. Announces Pricing of Public Offering of Common Stock and Warrants
Shelton, CT – September 10, 2014 – Nxt-ID, Inc. (Nasdaq: NXTD and NXTDW) (“Nxt-ID” or the “Company”), a biometric authentication company focused on the growing mobile commerce market, today announced the pricing of an underwritten public offering of 2,127,273 of shares of common stock and warrants to purchase 2,127,273 shares of common stock at a combined public offering price of $2.75 per share and related warrant. The Company expects to receive $5,850,000 in gross proceeds, before underwriting discounts and offering expenses payable by the Company and assuming no exercise of the underwriter’s over-allotment option. The Company has granted the representative of the underwriters a 45-day option to purchase up to 319,090 additional shares of common stock and/or warrants to purchase up to an additional 319,090 shares of common stock. The warrants are exercisable for a period of five years beginning on the closing date of the offering at an exercise price of $3.288 per share.
Shelton, CT – September 10, 2014 – Nxt-ID, Inc. (Nasdaq: NXTD and NXTDW) (“Nxt-ID” or the “Company”), a biometric authentication company focused on the growing mobile commerce market, today announced the pricing of an underwritten public offering of 2,127,273 of shares of common stock and warrants to purchase 2,127,273 shares of common stock at a combined public offering price of $2.75 per share and related warrant. The Company expects to receive $5,850,000 in gross proceeds, before underwriting discounts and offering expenses payable by the Company and assuming no exercise of the underwriter’s over-allotment option. The Company has granted the representative of the underwriters a 45-day option to purchase up to 319,090 additional shares of common stock and/or warrants to purchase up to an additional 319,090 shares of common stock. The warrants are exercisable for a period of five years beginning on the closing date of the offering at an exercise price of $3.288 per share.
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