NXT-ID, Inc. Announces $7,000,000 Registered Direct Offering
December 21 2017 - 2:59PM
NXT-ID, INC. (NASDAQ:NXTD), a security technology
company, today announced that it has entered into definitive
agreements with certain institutional investors to purchase an
aggregate of approximately $7,000,000 of shares of common stock in
a registered direct offering. The common stock will be priced at
$4.00 per share. Upon closing, the Company anticipates that it will
issue a total of approximately 1,750,000 registered common shares.
The Company intends to use the proceeds for further debt reduction,
to fund its Crypto Currency exchange product development and for
general corporate purposes.
The offering is expected to yield gross proceeds
of $7,000,000, before deducting placement agent fees and other
estimated offering expenses. The closing of the offering is
expected to take place on or about December 26, 2017, subject to
the satisfaction of customary closing conditions.
Aegis Capital Corp. is acting as the lead
placement agent in connection with this offering. Maxim Group LLC
is acting as a co-placement agent in connection with this
offering.
This offering is being made pursuant to an
effective shelf registration statement (No. 333-203637) previously
filed with and declared effective by the U.S. Securities and
Exchange Commission (the “SEC”). A prospectus supplement and
accompanying prospectus describing the terms of the offering will
be filed with the SEC and will be available on the SEC’s website
located at http://www.sec.gov. Copies of the prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained, when available, from Aegis Capital Corp.,
810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone at
212-813-1010 or email: prospectus@aegiscap.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such 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 Inc. - Mobile Security
for a Mobile World: (NXTD) NXT-ID, Inc. (NASDAQ:NXTD)
provides a comprehensive platform of technology products and
services that enable the Internet of Things (IoT). With extensive
experience in access control, biometric and behavior-metric
identity verification, security and privacy, encryption and data
protection, payments, miniaturization and sensor technologies,
NXT-ID develops and markets groundbreaking solutions for payment
and IoT applications. Its industry-leading technology products and
solutions include MobileBio®, a suite of biometric solutions that
secure consumers' mobile platforms, the Wocket™, a next-generation
smart wallet and the Flye, a digital credit card developed in
collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries:
LogicMark, LLC, a manufacturer and distributor of non-monitored and
monitored personal emergency response systems ("PERS") sold through
dealers/distributors and the United States Department of Veterans
Affairs; Fit Pay, Inc., a proprietary technology platform that
delivers end-to-end solutions to device manufacturers for
contactless payment capabilities, credential management,
authentication and other secure services within the IoT ecosystem,
and 3D-ID LLC, which is engaged in biometric identification and
authentication. Learn more about NXT-ID at 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.
NXT- ID Inc Contact:
Corporate info: info@nxt-id.com
Investors:investors@nxt-id.com
Media: D. Van Zant 800 665-0411press@nxt-id.com
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