• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

ImageWare Secures Funding Through Private Placement and Debt to Equity Swap

September 13, 2018

“We are extremely pleased with the financial commitment that our new investors and our existing debt holders have shown in support of the Company’s efforts through this financing and debt conversion. The proceeds from the Series C Financing will enable us to expand our sales and marketing efforts.” – Jim Miller, CEO, ImageWare

ImageWare has secured some new funding through a private placement and a debt to equity swap.ImageWare Secures Funding Through Private Placement and Debt to Equity Swap

The placement was conducted by Northland Capital Markets and concerned ImageWare’s Series C Convertible Preferred Stock. Four new institutional investors brought the company $8.9 million through the placement.

Meanwhile, lenders converted about $6.9 million in debt owed by ImageWare into 6,897 shares of Series A Convertible Preferred Stock. At the same time, ImageWare’s board of directors declared a dividend for Series A Preferred stockholders, allowing each to receive a warrant to purchase about 40 shares of common stock for each Series A Preferred share, “which warrant is only exercisable concurrently with conversion of outstanding shares of Series A Preferred,” according to a statement from the multimodal biometric authentication specialist.

Commenting on the maneuvers, ImageWare CEO Jim Miller said his team is “extremely pleased with the financial commitment that our new investors and our existing debt holders have shown”, adding that the proceeds will allow ImageWare “to expand our sales and marketing efforts.”

News of these developments comes about a month after ImageWare issued a Q2 update showing increased revenues and a lower net loss, year over year.

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, biometrics, capitalization, capitalization efforts, corporate news, debt conversion, ImageWare, investment news, investments, private placements

Related News & Articles

CloudMinds Launches Robot Rental Program

Cerence Pay Streamlines Gas Station Payments With P97 Partnership

NEXT Biometrics Announces New Chief Sales and Marketing Officer

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Worldcoin Aims to Support Digital ID Development With $5M Grant Program
  • NIST Should Be Tasked With mDL Standards, Experts Tell Congressional Hearing
  • Circle Security Leverages Mobile Biometrics for ‘Credential-Free Authentication’
  • Czech Legislation Paves Path to Mobile ID
  • ECOWAS Seeks Partner for Digital ID Roadmap

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld