AuthID Inc (NASDAQ:AUID) shares are trading lower by 26.6% to $4.75 during Monday’s session after the company announced an $8.15 million offering.

What To Know: Denver-based biometric authentication firm AuthID has announced a registered direct offering, raising approximately $8.15 million through the sale of 1.81 million shares and pre-funded warrants at $4.50 each. The offering is expected to close by April 1.

AuthID is also forming an Advisory Board, featuring Eric Swider, CEO of Rubidex, and Donald Nitti, Founder of Chroma Ventures. Swider, a former DWAC CEO, praised authID's biometric authentication technology, while Nitti highlighted its potential across various industries.

CEO Rhon Daguro emphasized authID's commitment to combating fraud and deepfake threats. The proceeds from the offering will support working capital and corporate expansion.

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How To Buy AUID Stock

By now you're likely curious about how to participate in the market for AuthID – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

According to data from Benzinga Pro, AUID has a 52-week high of $12.31 and a 52-week low of $4.01.