Trust Stamp Announces Oversubscribed Public Offer for Listing on Nasdaq; files a 1-U report with the Securities Exchange Commission

The Atlanta-based company said that with the offer oversubscribed, completed subscription requests will be closed in the order they are funded until the total closings hit the round cap of $ 5 million.

Trust Stamp (OTCQX: IDAI, EURONEXT: AIID) announced that it has received more than $ 14.9 million in signed subscription agreements for the Regulation CF offering, a type of offering that allows private companies to raise up to $ 5 million in the United States. The company said it stopped soliciting new investments on November 19, following the excess amount raised.

The Atlanta-based company said that with the offer oversubscribed, completed subscription requests will be closed in the order they are funded until the total closings hit the round cap of $ 5 million.

READ: Trust Stamp establishes Metapresence Limited subsidiary in Isle of Man for its crypto key vault

“Shareholders who invested in our Series A funding cycle oversubscribed to a $ 25 million pre-monetary valuation have re-registered more than 800 times to participate in Regulation CF or our Regulation D side offerings, and we really appreciate their continued support, ”Trust Stamp (OTCQX: IDAI, EURONEXT: AIID), CEO Gareth Genner said in a statement.

He added, “We are also delighted to welcome new mission-aligned crowdfunding investors to join us in our goal of providing privacy-preserving identity solutions to enable access and protect individuals’ data and organizations around the world. “

Based on the successful increase, the company launched an audit update of the PCAOB and submitted a draft Settlement-A Offer Statement to the Securities Exchange Commission (SEC) for comment. Upon completion of the SEC audit and qualification of the final offer statement, the company will apply for listing on the Nasdaq Capital Market.

Excess subscriptions will be refunded and placed on a list to be notified of future investment opportunities. Applicants who have failed to invest in either offer can purchase shares on the open market through the OTCQX Best Market (OTCQX: IDAI) or the Euronext Growth market (Euronext Growth: AIID ID ), the company said. in a press release.

Following the April 2021 Trust Stamp (OTCQX: IDAI, EURONEXT: AIID) application to be listed on the Nasdaq Capital Market, a number of steps have been taken to meet the quantitative requirements to seek a increase in quotation on the market.

The company completed a 5: 1 stock split in August 2020, which served to increase the OTCQX trading volume for the company’s shares, and recently welcomed two new independent non-executive directors with effective appointments on 1. December 2021, to align the composition of its board of directors with the requirements of the Nasdaq.

Trust Stamp is a global provider of AI-based identity services for use across multiple industries including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology provides organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency and reach a wider user base around the world through its unique transformational capabilities and data comparison.

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