ATLANTA, GA / ACCESSWIRE / November 22, 2021 / Trust Stamp (OTCQX:IDAI, Euronext Growth:AIID ID), a global provider of AI-powered trust & identity services used across multiple sectors, has stopped soliciting new investments for its Regulation CF offering at 11:59 PT on November 19, after receiving in excess of $14.9M in signed subscription agreements for the Regulation CF offering.
As the offering is over-subscribed, completed subscription applications will be closed in the order of their funding until total closings reach the $5M round cap. Excess subscriptions will be refunded and placed on a list to be notified of future investment opportunities. Applicants that were not successful in investing in one or other of the offerings are able to purchase stock in the open market via the OTCQX Best Market (OTCQX: IDAI), or the Euronext Growth Market (Euronext Growth: AIID ID).
Based upon the successful raise, the Company has initiated a PCAOB audit update and submitted a draft Regulation-A offering statement to the SEC for comments. Upon completion of the audit, and qualification of the final offering statement by the SEC, the company will request uplisting to the Nasdaq Capital Market.
Trust Stamp CEO Gareth Genner comments: 'Shareholders that invested in our oversubscribed Series A funding round at a $25M pre-money valuation have signed up again over 800 times to participate in either the Regulation CF or our parallel Regulation D offerings, and we truly appreciate their continued support. We are also thrilled to welcome new mission-aligned crowdfunding investors to join us in our goal of delivering privacy-preserving identity solutions to empower access and protect data for individuals and organizations around the world.'
Following the Company's April 2021 application to list on the Nasdaq Capital Market, a number of steps (including this offering) have been taken to meet quantitative requirements to seek uplisting to Nasdaq. The Company executed a 5:1 stock split in August 2020, which served the purpose of increasing the OTCQX trading volume for the company's shares, and has recently welcomed two new Independent Non-Executive Board Directors with appointments effective on December 1st, to bring its board committee composition in line with Nasdaq requirements.
Satisfying qualitative and quantitative standards for Nasdaq cannot be guaranteed. However, The Company is committed to provide transparent updates on the progress of the up-listing application as they work with Nasdaq staff and the company's advisors.
Trust Stamp Email: Shareholders@truststamp.ai
Gareth Genner, Chief Executive Officer
Nisha Naik, Executive VP of Communications
About Trust Stamp
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located in seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAI) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 90 people.
The information in this press release may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management's current views with respect to future events based information currently available and are subject to risks and uncertainties that could cause the company's actual results to differ materially. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. All investors should read the offering memorandums provided in conjunction with these offerings. Investments in Regulation CF offerings are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment.Trust Stamp has filed Form C that forms the Regulation CF Offering Statement with the SEC, a copy of which may be obtained from https:/investintruststamp.ai
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SOURCE: T Stamp Inc
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