New share issue from Precise Biometrics oversubscribed

October 12, 2012 - 

Precise Biometrics, a supplier of solutions for fingerprint recognition, announced the successful completion of a rights issue with preferential rights which has supplied the company with approximately US$8 million, prior to issue costs.

The company said that the rights issue was oversubscribed and carried out principally to enable further marketing, sales and development of Tactivo, as well as product development for other brands of smartphones and tablets.

Using Tactivo, organizations can provide employees in the field with enhanced biometric applications through their mobile Apple device. Tactivo also allows for passwords, data and other sensitive information to be securely stored onto any iPhone through its interface.

The case features not only a built-in smart card and fingerprint reader, but also a clear smart card cover to display government or other photo-embossed access credentials.

The recent rights issue was carried out to ensure a more cost effective alternative to the credit facility that was taken in March 2012.

The new issue of shares increases Precise Biometrics’ total share capital to US$15 million. The company trades on the NASDAQ OMX Nordic exchange.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.