Public options for biometrics investment widen with Trust Stamp Nasdaq listing
Trading of Trust Stamp stock on the Nasdaq Capital Market under the ticker symbol “IDAI” has commenced, for the first addition of a biometrics provider to a major North American exchange this year.
The move saw the company uplisted from the OTCQX Best Market, and comes days after Trust Stamp received approval from Nasdaq to have its Class A Common stock listed.
On that occasion, Trust Stamp also reportedly filed a Form 8-A with the Securities and Exchange Commission (SEC) and has received the qualification of its Form 1-A for the Regulation A offering, which will enable existing investors to exercise warrants. The company announced intentions to uplist last October.
The uplisting builds on Trust Stamp efforts over the last 12 months, including a $3.9 million contract with the U.S. Immigration and Customs Enforcement (ICE), a team expansion in Africa, and the approval of two new biometrics patents.
“Trust Stamp has raised over $30 million in capital, welcomed over 3,500 shareholders, and scaled to over 100 passionate team members in nine countries,” says the company’s CEO Gareth N. Genner.
Of this sum, $8.84 million was raised by Trust Stamp in January 2022, with the goal of further developing and commercializing its biometrics and digital identity solutions.
“Trust Stamp’s competitive advantage versus the legacy biometrics industry continues to garner commercial support across government and enterprise security and fraud prevention, data protection and privacy, and financial accessibility applications, which is reflected in our sustained year-over-year growth despite exceptional market conditions,” states Trust Stamp President Andrew Gowasack.
“We look forward to further strengthening our position as a trusted leader in the identity space with the increased visibility and reputation that a Nasdaq listing affords.”
Trust Stamp stock has traded everywhere from just over $3 to more than $7 during a series of fluctuations this year, and opened on the Nasdaq at $6.55. The stock was trading at around $5.50 in early-Wednesday afternoon trading.
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