September 15, 2021

Sept. 15, 2021 (GLOBE NEWSWIRE) — Nxt-ID, Inc. (NASDAQ: NXTD), a provider of technology products and services for healthcare applications, has announced the pricing of an underwritten public offering of 27,887,500 shares of the Company’s common stock, which includes 3,637,500 shares to be issued upon the exercise of the underwriters’ over-allotment option, and warrants to purchase up to 27,887,500 shares of the Company’s common stock, which includes additional warrants to be issued upon the exercise of the underwriter’s over-allotment option to purchase up to an additional 3,637,500 shares of common stock. The gross proceeds of the offering to the Company, inclusive of proceeds from the full exercise of the over-allotment option, are expected to be approximately $12.5 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. The company intends to use the net proceeds from the offering for new product development, working capital and liability reduction purposes. FLG partner Mark Archer assisted.

Full press release is here.