Nxt-ID, Inc. (NASDAQ:NXTD) Files An 8-K Other EventsItem 8.01Other Events.
On November 13, 2017, the Company closed its previously announced registered direct offering of an aggregate of 2,941,177 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Company sold the Shares at a price of $1.36 per share. The Company received gross proceeds from the offering, before deducting placement agent fees and other estimated offering expenses payable by the Company, of approximately $4 million. Aegis Capital Corp. acted as the placement agent for the offering.
On July 13, 2017, the Company also closed its previously announced concurrent private placement for no additional consideration, of warrants to purchase 2,500,000 shares of Common Stock.
About Nxt-ID, Inc. (NASDAQ:NXTD)
Nxt-ID, Inc. is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. It has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. It intends to use its core biometric facial and voice recognition algorithms to develop security applications (both cloud based and locally hosted) that can be used for companies, as well as individuals, law enforcement, the defense industry, and the United States Department of Defense. Its offerings include Wocket, a physical electronic smart wallet; the NXT Smartcard, a standalone smartcard; Wi-Mag, an antenna and payment technology, and 3D FaceMatch and 3D SketchArtist facial recognition products.