authID Inc. Enters into Backstop Commitment Agreement

On September 9, 2026, authID Inc. entered into a Backstop Commitment Agreement with certain holders of its outstanding senior secured debentures. The agreement provides for a backstop commitment of up to $300,000 if no third-party strategic investor funding occurs before the next payroll cycle, or up to $500,000 if such a transaction does occur. A total of $300,000 was funded on September 11, 2026. In consideration for this commitment, the company will issue 750,000 warrants to purchase common stock. The agreement also adjusts the conversion price of existing senior secured debentures to $0.38 and reduces the exercise price of existing warrants to $0.57. If the backstop amount is funded, a new senior secured debenture will be issued, ranking pari passu with existing debentures, and will be exchangeable into common stock at the adjusted conversion price. The company also agreed to file a resale registration statement for the underlying shares within 30 days. The agreement includes customary representations, warranties, and indemnification clauses, and is governed by New York law. The issuance of securities is made in reliance on exemptions from registration requirements.