ROCHESTER, N.Y., April 12, 2022 /PRNewswire/ — VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), offering authentication, provide chain monitoring, and data-rich buyer engagement characteristics using special smartphone readable codes on their products to brand homeowners, declared now that it has entered into a securities acquire settlement with sure accredited traders to buy about $5. million of its prevalent stock (or-prefunded warrants to obtain common stock in lieu thereof) and warrants by a private placement priced at-the-industry underneath Nasdaq rules. Just about every share of frequent inventory (or pre-funded warrant in lieu thereof) is currently being marketed together with an accompanying warrant at a put together successful invest in price tag of $3.215. Under the terms of the invest in settlement, VerifyMe has agreed to promote 1,555,208 shares of popular stock (or pre-funded warrants in lieu thereof) and warrants to order up to an aggregate of 1,555,208 shares of frequent stock. The warrants will be exercisable for a interval of five years commencing 6 months from the date of issuance and have an work out selling price of $3.215 per share. Sure officers and directors have indicated their intention to acquire up to 93,312 shares of popular inventory and 93,312 warrants in this featuring. The closing of the private placement is anticipated to arise on April 14, 2022, topic to the satisfaction of specified customary closing problems set forth in the securities purchase arrangement.
Maxim Group LLC is acting as the sole placement agent for the featuring.
The shares of widespread stock, pre-funded warrants and warrants described higher than have not been registered under the Securities Act of 1933, as amended, and could not be provided or sold in the United States absent registration with the Securities and Trade Commission (SEC) or an applicable exemption from these types of registration requirements. The securities had been offered only to accredited traders. Pursuant to a registration rights arrangement with the traders, the Firm has agreed to file 1 or extra registration statements with the SEC masking the resale of the shares of common inventory and the shares issuable on training of the pre-funded warrants and warrants.
This push launch shall not represent an offer you to provide or the solicitation of an give to purchase these securities, nor shall there be any sale of these securities in any condition or jurisdiction in which these offer, solicitation or sale would be unlawful prior to registration or qualification less than the securities guidelines of any this sort of condition or jurisdiction.
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technologies remedies supplier specializing in products and solutions to connect brand names with individuals. VerifyMe systems give model owners the skill to gather business intelligence while partaking immediately with their consumers. VerifyMe technologies also deliver manufacturer security and provide chain capabilities these as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and items. To master far more, visit www.verifyme.com.
Cautionary Notice Pertaining to Ahead-Hunting Statements
This launch contains forward-looking statements pertaining to income options, the use of our products with additional capabilities, strategic partnerships, commercialization attempts, our profits pipeline and options, and geographic spots, marketplaces and industries in which we intend to grow our organization. The terms “imagine,” “will,” “anticipate” and equivalent expressions, as they relate to us, are intended to identify ahead-looking statements. We have centered these ahead-searching statements largely on our latest anticipations and projections about long run occasions and economic traits that we think may influence our monetary condition, results of functions, organization approach and fiscal requirements. Crucial components that could lead to true results to differ from these in the forward-looking statements consist of, market place and other disorders, the ability to consummate the giving, the effect of the COVID-19 pandemic, intellectual property litigation, the successful advancement of our product sales and promoting capabilities, our potential to retain vital administration personnel, our skill to work with companions in providing our technologies to businesses, output challenges, our incapacity to enter into contracts and preparations with long term companions, difficulties which may perhaps impact the reluctance of large corporations to modify their purchasing of goods, acceptance of our systems and the efficiency of our authenticators in the area. These hazard components and uncertainties incorporate those people much more entirely explained in VerifyMe’s Annual Report and Quarterly Studies submitted with the Securities and Trade Fee, like below the heading entitled “Risk Factors.” Need to just one or much more of these threats or uncertainties materialize, or really should any of our fundamental assumptions demonstrate incorrect, real effects might fluctuate materially from individuals at this time anticipated. Any ahead-wanting statement produced by us herein speaks only as of the day on which it is made. Variables or situations that could trigger our precise benefits to differ may possibly arise from time to time, and it is not attainable for us to forecast all of them. We undertake no obligation to publicly update any ahead-looking statement, no matter whether as a final result of new data, foreseeable future developments or in any other case, except as may possibly be expected by legislation.
For Licensing or Other Details Speak to:
Firm: VerifyMe, Inc.
Internet site: https://www.verifyme.com
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Source VerifyMe, Inc.