Aegis Capital will be the bookrunning manager conducting the offering
By Devika Patel
Knoxville, Tenn., Oct. 16 – Nxt-ID, Inc. said it priced a $1.05 million public sale of stock with a $157,500 greenshoe.
The company will sell 1.5 million common shares at $0.70 per share, which is a 29.29% discount to the Oct. 15 closing share price of $0.99.
Aegis Capital Corp. is the bookrunning manager.
Proceeds will be used for working capital and other general corporate purposes.
The Oxford, Conn., company offers security solutions for mobile devices.
| Issuer: | Nxt-ID, Inc.
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| Issue: | Common stock
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| Amount: | $1.05 million
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| Greenshoe: | $157,500, or 225,000 shares
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| Shares: | 1.5 million
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| Price: | $0.70
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| Warrants: | No
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| Bookrunner: | Aegis Capital Corp.
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Stock symbol: | Nasdaq: NXTD
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| Stock price: | $0.99 at close Oct. 15
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| Market capitalization: | $22.03 million
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