IDEX Biometrics ASA has closed the subscription period for its subsequent offering of up to 600 million new shares, priced at NOK 0.01 per share. The subscription window concluded today at 16:30 CET. Final results regarding allocation and total proceeds have not yet been published.
Offer Structure and Recent Developments
The offering was structured to give shareholders who did not take part in IDEX’s April 11, 2025 debt conversion an opportunity to subscribe on equivalent terms. Arctic Securities AS managed the subscription process. All unused subscription rights expired without compensation upon closing. The company published a prospectus in accordance with applicable disclosure requirements.
The offering comes as IDEX continues to pursue opportunities in both biometric payment cards and access control. In March 2025, the company announced a shift in strategic focus toward the access control market while maintaining activity in the payments sector. In February, IDEX reported receiving a 10,000-unit order for VISA biometric cards in the Middle East and Africa region. A separate production order in Japan was also announced earlier this year, though the number of units has not been confirmed in company filings.
Funding Context and Market Conditions
The timing of the offering follows a previous 140 million-share offering conducted in late 2024. The company’s most recent quarterly update showed a modest revenue increase to USD 0.1 million in Q1 2025, up from near-zero in the prior quarter, alongside a reduction in operating expenses from USD 5.7 million in Q1 2024 to USD 3.0 million. Despite continued operating losses, IDEX has framed these trends as progress toward long-term sustainability.
The company’s position in the biometric payment card space has drawn attention in light of broader market volatility. In March, competitor Zwipe AS filed for bankruptcy in the Oslo district court. IDEX’s ability to raise additional capital during this period may signal investor confidence in its revised market strategy and product portfolio.
Sources: Euronext, GlobeNewswire
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June 5, 2025 – by Ji-seo Kim
