Intellicheck Announces Proposed Public Offering of Common Stock
June 18 2020 - 4:25PM
Business Wire
Intellicheck, Inc. (NASDAQ: IDN) (“Intellicheck”), an industry
leader in identification authentication solutions, today announced
that it has commenced an underwritten registered public offering of
its common stock. In addition, Intellicheck intends to grant the
underwriter for the offering a 30-day option to purchase up to an
additional 15% of the shares of its common stock sold in the
offering to cover over-allotments, if any. All shares of common
stock to be sold in the proposed offering will be offered by
Intellicheck. The proposed offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Intellicheck intends to use the net proceeds from this proposed
offering for general corporate purposes and working capital.
Northland Capital Markets is acting as the sole book-running
manager for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-238680) that was
previously filed with the Securities and Exchange Commission (the
“SEC”) on May 22, 2020, amended on June 1, 2020 and declared
effective on June 4, 2020. A preliminary prospectus supplement and
accompanying prospectus related to and describing the terms of the
proposed offering have been filed with the SEC and may be obtained
by visiting EDGAR on the SEC's website at www.sec.gov or by
contacting Northland Securities, Inc., Attention: Heidi Fletcher,
150 South Fifth Street, Suite 3300, Minneapolis, Minnesota 55402,
email at hfletcher@northlandcapitalmarkets.com or telephone (612)
851-4918. The final terms of the proposed offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may 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 Intellicheck
Intellicheck is a trusted industry leader in technology
solutions that stop identity theft and fraud with real-time
identification authentication and age verification. Intellicheck
makes it possible for its clients to increase revenues, improve
customer service, and increase operational efficiencies.
Intellicheck is focused on partnering with banks, credit card
issuers and retailers to prevent fraud. Intellicheck also serves
law enforcement agencies, national defense clients and diverse
state and federal government agencies.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Although the forward-looking statements in this release
reflect the good faith judgment of management, forward-looking
statements are inherently subject to known and unknown risks and
uncertainties that may cause actual results to be materially
different from those discussed in these forward-looking statements.
Readers are urged to carefully review and consider the various
disclosures made by Intellicheck in the reports it has filed with
the SEC, including the risk factors that attempt to advise
interested parties of the risks that may affect its business,
financial condition, results of operation and cash flows. If one or
more of these risks or uncertainties materialize, or if the
underlying assumptions prove incorrect, Intellicheck’s actual
results may vary materially from those expected or projected.
Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Intellicheck assumes no obligation to update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this release.
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