Nxt-ID, Inc. Announces Closing of Public Offering of

New Post Public Reply Private Reply Replies (0) Message Board

Sep 17, 2014 at 9:38 AM

Nxt-ID, Inc. Announces Closing of Public Offering of Common Stock and Warrants
PR Newswire
NXT-ID, Inc. 33 minutes ago

SHELTON, Conn., Sept. 17, 2014 /PRNewswire/ -- Nxt-ID, Inc. (Nasdaq:NXTD and NXTDW) ("Nxt-ID" or the "Company" announced today that it has closed the previously announced underwritten public offering of its common stock and warrants. The Company offered 2,127,273 shares of common stock and 2,127,273 warrants to purchase shares of common stock, at a combined price to the public of $2.75 per share and related warrant. The warrants are exercisable for a period of five years beginning on today's date at an exercise price of $3.288 per share. Nxt-ID received gross proceeds from the offering, before deducting the underwriting discount and estimated offering expenses payable by Nxt-ID, of approximately $5,850,000.

The Company intends to use the net proceeds received from the offering for general corporate purposes including working capital, product development and marketing activities.

Northland Capital Markets and The Benchmark Company are acting as Co-Book-Running Managers, and Newport Coast Securities Inc. is acting as co-manager for the offering.

The offering was made pursuant to a registration statement on Form S-1 that Nxt-ID filed with the Securities and Exchange Commission ("SEC" and which is effective. A final prospectus supplement containing important information relating to these securities was filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. Copies of the final prospectus relating to the offering may be obtained from the offices of Northland Capital Markets, 45 South 7th Street, Suite 2000, Minneapolis, MN 55402, +1-612-460-4803, or from the above-mentioned SEC website.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nxt-ID Technology

Nxt-ID's innovative MobileBio™ solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with the user's biometric stamp of approval. www.wocketwallet.com.

NXT-ID's wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification and has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com, http://3d-id.net.

For more information, please visit http://www.nxt-id.com.

Cautionary Statement Regarding Forward Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Nxt-ID, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Contact:

Corporate info: info@nxt-id.com
Investor Inquiries: Kirin Smith
ProActive Capital Group
Direct: +1-646-863-6519
ksmith@proactivecapital.com
Media: 800-665-0411

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

BioMarin Strikes Deal for New Fabry Disease Therapy

BioMarin's Latest Moves in Rare Disease Therapies Now here's a plot twist in the biotechnology landscape. BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) just did what they do best—snagging rights to a promising enzyme therapy aimed at turning the tide for Fabry disease. In a deal that spoke volumes about their intentions, BioMarin is forking over a cool $70 million upfront...

SCI Faces Investigation After Earnings Downgrade

SCI's Rough Ride: Investors Brace for Impact There's nothing like waking up to find the stock you were banking on took a nosedive while you were dreaming of dividends. Service Corporation International (NYSE: SCI) sure gave shareholders more of a nightmare than a dream, slashing its earnings forecast for 2026 and watching its stock crumble by about 11.6% on October 29....

Palmetto Publishing's M&A Guide Aims to Boost Home Services

Palmetto's New Release: Mergers & Acquisitions Focus Man, Palmetto Publishing just dropped a bombshell for home services aficionados with their latest M&A guide. Now, if you’re like me, swimming in stocks and always looking for that next big exit play, this one’s tailor-made for you. Mergers and acquisitions might not sound as flashy as the tech darlings or...

Why Haunted Attractions Keep Us Coming Back for Fear

Welcome to Fear Incarnated Ah, Kansas City. More than just jazz and barbeque. You’ve got these infamous haunted houses that turn every horror flick into a mere Saturday morning cartoon. Enter Edge of Hell and Beast Haunted Attraction. Two horrifying museums of fear that somehow lure us like flies to sugar from miles away. What's the secret sauce? Well, that’s half the...

David Cornue Brings Story Insights to SXSW 2027

Crafting Stories with Precision: Cornue's Return In the world where Austin becomes a melting pot of ideas every spring, the return of David Cornue to SXSW casts a familiar, yet electrifying spark. This best-selling author and television whiz is slated to share his story magic at two workshops: one in the Lifestyle track and the other in the Film & TV track. Folks on-site...

Solink Secures $100M: NYSE Sees Tech and Sports Moves

Folks, it’s a busy day on Wall Street, with Solink leading the charge by landing over a cool $100 million in fresh funding. Let's break this down because when startups pocket nine-digit figures, it's time to pay attention. Solink's Leap Forward Now, what’s Solink doing with all that cash? They're not scrambling for coffee money, that's for sure. Instead, this funding...

Hanwha's Big Bet: Tokenizing Real-World Assets with Chainlink

Hanwha and Chainlink: A Game Changer in Tokenization What do Hanwha Investment & Securities, a heavyweight in Korea's finance scene, and Chainlink, the wizard of onchain finance, think they're up to? They're buddies now, locked and loaded, to tokenize real-world assets (RWAs). They're not just shaking hands; they're aiming to jiggle the global finance bedrock....

Skechers Faces Shareholder Lawsuit: Must Act by Dec 21

Skechers Shareholders Stirring Over Lawsuit A fresh wave of legal antics is crashing at the shores of Skechers U.S.A., Inc. (NYSE: SKX) as frustrated shareholders mobilize against the footwear juggernaut. We're talking about a class action lawsuit here, folks, aimed at shaking down some clarity—or maybe just some cold, hard cash—from this bruiser over some sketchy...

OPC Energy Refinances $825M for U.S. Power Plants

Strategic Financial Move for OPC Energy Here's the scoop from the powerhouse behind some major U.S. electricity moves: OPC Energy and its subsidiary CPV nailed down a hefty $825 million financing package for the Shore and Maryland power plants. This isn’t just any old financial shuffle. Nope, they've hammered out an all-in-one refinancing deal that's setting the stage...

wagamama Spruces Up U.S. Market with mamago Launch

What's Cooking at wagamama with mamago? Here comes wagamama, striding into the American dining scene with that familiar bold Pan-Asian flair, now offering more than just a seat at their tables. The fresh move to a direct-to-door model dubbed ‘mamago’ ushers in an era where their signature dishes don't just seduce your taste buds at their restaurants. Nope, they are...