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NXT-ID has a current market capitalization on NASDAQ of roughly $25 million. The company went public on the OTCQB market through an S-1 self-registration, in August 2013, raising roughly $1 million at a price of $1.00 per share. At mid-day on July 28, the company’s stock was trading in the range of $0.41 – $0.47 per share, less than half its IPO price. From 2013 to 2016 NXT-ID reportedly raised $5.8 million in multiple rounds of venture capital and debt funding, including $150,000 in funding in early 2013 from Connecticut Innovations, the state’s quasi-public authority responsible for growing Connecticut businesses. “This is a significant milestone for the company,” said Gino Pereira, chief executive of the NXT-ID. “LogicMark is a market leader in unmonitored PERS devices and we believe we can potentially add significant value by integrating our voice biometric technology as well as detection sensors and miniaturization to future versions of LogicMark products.” “We are pleased that the acquisition is complete and look forward to being part of the NXT-ID team,” said Logicmark’s president Kevin O’Connor. The acquisition was financed with a $15 million debt facility provided by ExWorks Capital Fund and $4.5 million of preferred equity funded by institutional investors. Aegis Capital Corp. served as exclusive placement agent for the debt and equity financing, as well as financial advisor to NXT-ID. Livingstone, an international mid-market M&A and debt advisory firm, served as advisor to Logicmark. Patzik, Frank & Samonty Ltd. served as legal counsel to LogicMark, and Miller Cooper & Co. Ltd. provided accounting and tax diligence services to LogicMark.]]>