authID Inc. Private Placement of Senior Secured Debentures and Stock Purchase Warrants

authID Inc. has closed a private placement offering, issuing approximately $3,765,000 in Senior Secured Debentures and accompanying Stock Purchase Warrants to accredited investors. The Debentures mature in six months and are secured by substantially all of the Company's assets. The Warrants allow the purchase of common stock at $1.50 per share, with a five-year term and a cashless exercise provision. Additionally, "Fee Shares" were issued, calculated as 15% of the invested principal amount. The Company also entered into a Registration Rights Agreement to register the resale of shares issuable from the Warrants and Fee Shares. The offering was conducted on a best-efforts basis with Madison Global Partners, LLC acting as placement agent. The securities were issued under Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b) of Regulation D.