FB pixel

NEXT Biometrics raises $18.7M to invest in flexible sensors

NEXT Biometrics raises $18.7M to invest in flexible sensors
 

NEXT Biometrics Group ASA has raised approximately 156 million NOK (US$18.7 million) in gross proceeds through a private placement consisting of 1,167,000 new shares at a price of NOK 134 (US$16) per share.

The company said it will invest the net proceeds from the private placement – which drew strong interest from both existing shareholders as well as new “high quality institutional investors” – in increased flexible sensor production capacity, further smart card related R&D and general corporate purposes.

As managers, Carnegie, DNB Markets and Pareto Securities advised on the private placement of new shares directed towards Norwegian and international investors after the close of Oslo Stock Exchange on Monday.

The new shares will be issued based on a board authorization granted by NEXT Biometrics’ general meeting on June 15, 2016.

Once the new share capital relating to the private placement is registered, NEXT will have an issued share capital of NOK 16,325,980 (US$19.6 million), divided into 16,325,980 shares, which works out to NOK 1.00 (US$0.12) per share.

The achieved share price reflects a 3.9% discount of the closing market price on Monday.

Previously reported, NEXT Biometrics’ board of directors appointed former Motorola executive Ritu Favre as the company’s new CEO.

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

Operationalizing biometrics for digital economy is a process

From biometric binding through regulations for payments from digital wallets, the Biometric Update’s top stories of the week reflect a…

 

Deepfakes a ‘now problem’ as EU AI Act passes compliance deadline: Reality Defender

First it was Joe Biden, Kamala Harris and Taylor Swift. Now it’s Scarlett Johannson, Emmanuel Macron and Italy’s Defense Minister…

 

OneID raises £16 million

UK digital verification service OneID has secured new funding amid a rise of interest in digital identity among the country’s…

 

Digital ID verification can make property transactions more efficient, less prone to fraud

In the UK, Russia, South Korea, India and Pakistan, biometrics are making their way into real estate transactions, as digital…

 

IDV experts ponder death and resurrection of document verification

Is document verification dead? The question hangs over a debate hosted by Peak IDV CEO, Steve Craig. Five industry experts…

 

Jamaica operationalizing national digital ID with data exchange platform

Jamaica will make its digital identity available to all of its citizens, Custos of Kingston Steadman Fuller said on Thursday…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events