197 0 Kommentare IDEX Biometrics ASA - Contemplated Private Placement - 15 May 2024

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Oslo, 15 May 2024.

IDEX Biometrics ASA (the "Company"), a leading provider of advanced fingerprint identification and authentications solutions, has retained Arctic Securities AS as sole manager and bookrunner (the "Manager") to advise on and effect a private placement (the "Private Placement") of new shares in the Company (the "Offer Shares") to raise gross proceeds of NOK 40-50 million.

The net proceeds from the Private Placement will be used to fund the Company’s commercialization phase, necessary product development and market development expenses, working capital requirements, as well as other general corporate purposes.

The Company is also taking further actions to improve efficiencies as the Company progresses to a commercial phase. This further allows for streamlining the organisation, and in line with previous communication the Company expects to be below USD 4.0m in quarterly opex on a run-rate basis from the end of June 2024. Further adding to this, the Company expects to be below USD 3.0m in quarterly cash opex on a run-rate basis by the end of September 2024, with a target to reach approximately USD 2.5m in quarterly cash opex. A lower cost base combined with improved commercial momentum implies the Company is making important steps to reach profitability.