---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-043563"
form_type: "8-K"
ticker: "AUID"
cik: "0001534154"
company_name: "authID Inc."
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T12:53:33.733406+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# authID raises ~$8.4M equity and exchanges notes for 19M shares; regains Nasdaq equity compliance

## Summary
- Sold 17.9M shares (8.98M registered + 8.90M PIPE) at $0.458/share for ~$8.4M gross proceeds.
- Issued 19.0M shares to Convertible Note holders at ~$0.472/share in exchange for cancellation of notes.
- CEO and four directors participated; Garchik's $900k promissory note cancelled via share offset.
- Company believes it regained compliance with Nasdaq minimum $2.5M stockholders' equity requirement.
- Madison Global Partners placed the offering for 7% cash fee and warrants to buy 1.25M shares.

## SEC filing metadata
- accession: 0001213900-23-043563
- form_type: 8-K
- ticker: AUID
- cik: 0001534154
- company_name: authID Inc.
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534154/000121390023043563/0001213900-23-043563-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534154/000121390023043563/ea179371-8k_authidinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-043563
- JSON: https://secwatch.observer/filing/0001213900-23-043563.json
- Plain text: https://secwatch.observer/filing/0001213900-23-043563.txt

## Key facts
- Material Agreements
  authID Inc. entered into Securities Purchase Agreement with accredited investors valued at Company issuing shares to Purchasers (effective 2023-05-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: accredited investors
  - Value: Company issuing shares to Purchasers
  - Effective: 2023-05-23
  source text: EX-10.1 3 ea179371ex10-1_authidinc.htm FORM OF SECURITIES PURCHASE AGREEMENT, DATED AS OF MAY 23, 2023, BETWEEN THE COMPANY AND ACCREDITED INVESTORS
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023043563/0001213900-23-043563-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.