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Precise Biometrics share sale pulls up far short of goal
May 29, 2023, 10:31 p.m. | Jim Nash
Biometric Update www.biometricupdate.com
Digital ID vendor Precise Biometrics is reporting that its rights issue netted 13.6 million new shares, which is 44 percent of what the company had hoped to get.
Fully secured through subscription commitments and underwriting agreements, Precise expects to receive 49.5 million Swedish kronor (US$4.57 million) before customary costs of 9 million kronor. The money will help fund expansion.
The subscription period ended May 29. Executives had planned to issue new shares valued at an estimated 49.5 million Swedish kronor, …
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