authID draws $300K backstop, resets debenture conversion to $0.38, warrants to $0.57

authID Inc.

Backstop Commitment Agreement for up to $300K (or $500K if strategic-partner deal closes); $300K funded Sept 11, 2026.
Senior Secured Debenture conversion price fixed at $0.38/share for all holders as of Sept 9; director-held debentures excluded without stockholder approval.
Existing Warrants exercise price cut from $1.50 to $0.57/share; 750,000 five-year Commitment Fee Warrants issued at $0.57.
If funded, Backstop Debenture will be pari passu with SSBs, same collateral, exchangeable at $0.38; registration statement due within 30 days.
Company pursuing interim finance agreement with strategic partner; subordination agreement and Nasdaq 19.99% share cap apply.

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