authID prices $1.35M convertible debentures at $0.386; EinStrong signs $2M licensing deal

authID Inc.

Private placement: $1,350,000 senior secured convertible debentures convertible at $0.386 into 3,497,409 shares; warrants for 1,800,000 shares at $0.50.
Gross proceeds $1.35M before fees; placement agent Madison Global Partners gets 7% cash fee and 244,819 warrants at $0.386 plus $25,000 legal reimbursement.
April 2026 debentures' maturity extended from Oct 29, 2026 to Feb 28, 2027; related warrant exercise price cut from $0.57 to $0.50, director warrants need stockholder approval.
EinStrong Charitable Foundation pays $1M for non-exclusive license of authID biometric ID tech, commits $1M more for de-duplication functionality and engineering support.
CEO Thomas Szoke says monthly cash operating expenses cut roughly 40% vs Q1 2026; net proceeds for working capital, no debt repayment.

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