Press Release – New York, NY – June 1, 2023 – Sichenzia Ross Ference LLP announced today that it represented Madison Global Partners LLC, in a registered direct and concurrent private placement of the securities of authID, Inc. (NASDAQ: AUID) (“The Company”), a leading provider of secure identity authentication solutions. The company sold 17.9 million shares of its common stock at a purchase price of $0.458. The aggregate gross proceeds from both offerings were approximately $8.2 million including the offset of principal and accrued interest under and cancellation of a $929,250 note entered into by the Company with Stephen Garchik on March 9, 2023. Gross cash proceeds were approximately $7.3 million before deducting placement agent fees and other expenses of the Offering.
The Sichenzia Ross Ference LLP team was led by partners Darrin Ocasio and Jeff Cahlon and associates Matthew Siracusa and Jesse Blue.
