FacePrint Global Solutions gets $10 million equity line from Cornell

By Sheri Kasprzak

New York, Feb. 23 - FacePrint Global Solutions Inc. said it has entered into a standby equity distribution agreement with Cornell Capital Partners, LP for up to $10 million.

Cornell may buy shares of FacePrint at a discount to the current market price. The full terms of the equity line could not be determined by press time Thursday.

There is a $550,000 limit on each draw.

Proceeds from the deal will allow the company to finalize its product line, including its EZ-Face law enforcement three-dimensional facial composite software.

Based in Fresno, Calif., FacePrint develops face recognition software used for identity verification.

The company's stock gained 22.52%, or $0.034, to close at $0.185 Thursday (OTCBB: FCPG).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.