authID Inc. (NASDAQ:AUID) ("authID" or the "Company"), a leading provider of biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell Senior Secured Debentures (the "Debentures") and Warrants to purchase shares of the Company's common stock (the "Warrants") pursuant to a private placement offering (the "Offering").

The Warrants will be exercisable six (6) months from the closing of the offering and will have an exercise price of $1.50. Additionally, the Investors will receive a fee, including an amount in lieu of interest, equal to fifteen percent (15%) of the principal amount of the Investor's investment, payable in  shares of common stock (the "Fee Shares").  The Fee Shares will be priced at $1.00, or in the case of any Investor who is a Director of the Company, at the Nasdaq Consolidated Closing Bid Price. The issuance of the Warrants and the Fee Shares shall remain subject to compliance with applicable securities laws, Nasdaq rules and the Company's governing documents.

The aggregate gross proceeds from the Offering are expected to be approximately $4,000,000 before deducting placement agent fees and other Offering expenses. The Company has received subscriptions to date for approximately $ 3.5 million.