Trust Stamp Announces Pricing Of $3.5M Registered Direct Offering

Trust Stamp (NASDAQ:IDAI), a global provider of AI-powered technologies, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 414,202 shares of common stock (or pre-funded warrants in lieu thereof) in a registered direct offering, priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company also agreed to issue and sell unregistered Series A Warrants to purchase up to an aggregate of 414,202 shares of common stock, and unregistered Series B Warrants to purchase up to an aggregate of 207,101 shares of common stock. The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and the accompanying Series A Warrants and Series B Warrants is $8.45. Each private placement warrant will be immediately exercisable, will expire five years from the initial exercise date and will have an exercise price of $8.45 per share.

The combined gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $3.5 million before deducting the placement agent's fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about January 8, 2025, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.