11:24 AM EST, 01/07/2025 (MT Newswires) -- T Stamp ( IDAI ) said Tuesday it agreed to a registered direct offering of common shares and a concurrent private placement of series A and series B warrants to raise about $3.5 million in combined gross proceeds.

The offering includes 414,202 shares and the private placement covers series A warrants to purchase the same amount of shares and series B warrants to purchase up to 207,101 shares, according to the company.

The combined price of each common share and accompanying series A and series B warrants is $8.45, T Stamp ( IDAI ) added.

The company said the private placement warrants have an exercise price of $8.45 per share and expire after five years.

T Stamp ( IDAI ) expects to close the offering on or about Wednesday.

Shares of T Stamp ( IDAI ) were down nearly 16% in recent trading.

Price: 6.97, Change: -1.29, Percent Change: -15.64