authID Inc. entered into a Backstop Commitment Agreement with holders of its senior secured debentures, securing an aggregate commitment of up to $300,000 or $500,000 depending on a potential strategic investor transaction. The company funded the initial $300,000 tranche on September 11, 2026. As consideration for this backstop, authID issued 750,000 warrants exercisable at $0.57 per share with a five-year term. Concurrently, the conversion price of existing senior secured debentures was fixed at $0.38, and the exercise price of existing warrants was repriced from $1.50 to $0.57 per share. The company also agreed to subordinate these debentures to a prospective strategic partner and file a registration statement for the underlying securities within thirty days. authID Inc. operates in the identity verification and authentication technology industry.
