T Stamp Inc
Filed Jan 27, 2025.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Jan 27, 2025
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As filed with the U.S. Securities and Exchange Commission on January 27, 2025
Registration No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM****S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
(Exact name of registrant as specified in its charter)
| Delaware | 7372 | 20-2222203 |
|---|---|---|
| (State or other jurisdiction ofincorporation or organization) | (Primary Standard IndustrialClassification Code Number) | (I.R.S. EmployerIdentification Number) |
3017 Bolling Way NE, Floor 2,
Atlanta, Georgia, 30305, USA
(404) 806-9906
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Gareth Genner
c/o T Stamp Inc.
3017 Bolling Way NE, Floor 2,
Atlanta, Georgia, 30305, USA
(404) 806-9906
(Name, address, including zip code, and telephone number, including area code, of agent for service)
With a Copy to:
CrowdCheck Law LLP
700 12th Street NW, Suite 700
Washington, DC 20005
Approximate date of commencement of proposed sale to the public: Promptly after the effective date of this registration statement.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box.☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.☐
If delivery of the prospectus is expected to be made pursuant to Rule 434, check the following box.☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to such Section 8(a), may determine.
EXPLANATORY NOTE
Pursuant to Rule 429 under the Securities Act of 1933, as amended (the “Securities Act”), the prospectus included in this Registration Statement on Form S-1 (this “Registration Statement”) is a combined prospectus relating to:
| ● | The resale of up to 621,303 shares of Class A Common Stock, par value $0.01 per share (“Class A Common Stock”) issuable upon the exercise of certain warrants issued to Armistice Capital Master Fund Ltd. (“Armistice” or the “Selling Stockholder”) comprised of: (i) up to 414,202 shares of Class A Common Stock issuable upon the exercise of certain warrants (the “2025 Series A Warrants”) at an exercise price of $8.45 per share; and up to 207,101 shares of Class A Common Stock issuable upon the exercise of certain warrants at an exercise price of $8.45 per share (the “ 2025 Series B Warrants”, and collectively with the Series A Warrants, the “2025 Private Placement Warrants”) issued to Armistice in private placement offering consummated on January 8, 2025; |
| ● | The resale of up to 648,148 shares of our Class A Common Stock comprised of shares issuable upon the exercise of common stock purchase warrants consisting of Series A common warrants exercisable for up to 370,370 shares of Class A Common Stock at an exercise price of $8.10 per share (the “December 2024 Series A Warrants”), and Series B common warrants exercisable for up to 277,778 shares of Class A Common Stock at an exercise price of $8.10 per share (the “December 2024 Series B Warrants”, and collectively, the “December 2024 Private Placement Warrants”) which were sold to the Selling Stockholder in a private placement offering consummated on December 6, 2024. |
| ● | The resale of up to 827,391 shares of our Class A Common Stock comprised of (i) 190,987 shares issuable upon the exercise of certain common stock purchase warrants (the “September 2024 Private Placement Warrants”) at an exercise price of $4.8345 per share; and (ii) 636,404 shares issuable upon the exercise of certain common stock purchase warrants (the “September 2024 New Warrants”) at an exercise price of $4.8345 per share, each of which were sold to the Selling Stockholder in a private placement offering consummated on September 3, 2024 and which were registered on a registration statement on Form S-3 (File No. 333-282310) that was initially declared effective by the SEC on December 6, 2024. |
This Registration Statement, which is a new registration statement, also constitutes Post-Effective Amendment No. 1 to Registration Statement No. 333-282310 and Post-Effective Amendment No. 1 to Registration Statement No. 333-277151 and such post-effective amendments shall hereafter become effective concurrently with the effectiveness of this Registration Statement and in accordance with Section 8(c) of the Securities Act.
On January 6, 2025, the Company effected a reverse stock split of its outstanding Common Stock at a ratio of one (1) share of Common Stock for every fifteen (15) shares of Common Stock (the “Reverse Stock Split”). Unless stated otherwise, all discussion of the Company’s Class A Common Stock in this Registration Statement, including securities exercisable or convertible into our Class A Common Stock, has been adjusted to reflect Reverse Stock Split. The Company has also included in this Registration Statement adjusted versions of the financial statements previously filed with its Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 to give effect to the Reverse Stock Split.
| SUBJECT TO COMPLETION | PRELIMINARY PROSPECTUS DATED JANUARY 27, 2025 |
|---|
T Stamp Inc.
Up to 2,096,842 Shares of Class A Common Stock
This prospectus relates to the resale by the Selling Stockholder from time to time of up to an aggregate of 2,096,842 shares of our Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”) consisting of:
| ● | 621,303 shares of Class A Common Stock issuable upon the exercise of certain warrants issued to the Selling Stockholder comprised of (i) up to 414,202 shares of Class A Common Stock issuable upon the exercise of the 2025 Series A Warrants and up to 207,101 shares of Class A Common Stock issuable upon the exercise of the 2025 Series B Warrants sold to the Selling Stockholder in private placement offering consummated on January 8, 2025; |
| ● | 648,148 shares of our Class A Common Stock issuable upon the exercise of common stock purchase warrants comprised of (i) up to 370,370 shares of Class A Common Stock issuable upon the exercise of December 2024 Series A Warrants, and (ii) up to 277,778 shares of Class A Common Stock issuable upon the December 2024 Series B Warrants sold to the Selling Stockholder in a private placement offering consummated on December 6, 2024. |
| ● | 827,391 shares of our Class A Common Stock comprised of (i) 190,987 shares issuable upon the exercise of the “September 2024 Private Placement Warrants” and (ii) 636,404 shares issuable upon the exercise of the September 2024 New Warrants, each of which were sold to the Selling Stockholder in a private placement offering consummated on September 3, 2024 and which were registered on a registration statement on Form S-3 (File No. 333-282310) that was initially declared effective by the SEC on December 6, 2024. |
We refer to all of the warrants referenced above collectively as the “Warrants”.
The Selling Stockholder may offer and sell its shares in public or private transactions, or both. These sales may occur at fixed prices, at market prices prevailing at the time of sale, at prices related to prevailing market price, or at negotiated prices.
As provided by Rule 416 of the Securities Act of 1933, as amended, this prospectus also covers any additional shares of Class A Common Stock that may become issuable upon any anti-dilution adjustment pursuant to the terms of the Warrants issued to the Selling Stockholders by reason of stock splits, stock dividends, and other events described therein.
The Selling Stockholder may sell all or a portion of shares through underwriters, broker dealers or agents, who may receive compensation in the form of discounts, concessions or commissions from the Selling Stockholder, the purchasers of the shares, or both. See “Plan of Distribution” for a more complete description of the ways in which the shares may be sold. We will not receive any of the proceeds from the sale of any of the 2,096,842 shares by the Selling Stockholder. However, upon exercise of the Warrants for cash, the Selling Stockholder would pay us an exercise price of between $4.8345 and $8.45 per share of Class A Common Stock, subject to any adjustment pursuant to the terms of the Warrants, or an aggregate of approximately $14,500,031 if the Warrants are exercised in full for cash. The Warrants are also exercisable on a cashless basis under certain circumstances, and if the Warrants are exercised on a cashless basis, we would not receive any cash payment from the Selling Stockholder upon any such exercise of the Warrants. We have agreed to bear the expenses (other than underwriting discounts, commissions or agent’s commissions and legal expenses of the Selling Stockholder) in connection with the registration of the Class A Common Stock being offered under this prospectus by the Selling Stockholder.
We will pay the expenses of registering these shares, but all selling and other expenses incurred by the Selling Stockholder will be paid by the Selling Stockholder. See “Plan of Distribution.”
We are an “emerging growth company” and a “smaller reporting company” as such terms are defined under federal securities laws, and, as such have elected to take advantage of certain reduced public company reporting requirements for this prospectus and may elect to do so in future filings.
Our Class A Common Stock is quoted on The NASDAQ Capital Market under the symbol “IDAI.” On January 24, 2025, the last reported sale price of our Class A Common Stock on The NASDAQ Capital Market was $4.72 per share.
Unless stated otherwise, all discussion of the Company’s Class A Common Stock, including securities exercisable or convertible into our Class A Common Stock, has been adjusted to reflect the 15-for-1 reverse stock split, which became effective on January 6, 2025.
You should read this prospectus carefully before you invest in any of our securities.
Investing in securities involves a high degree of risk. See “Risk Factors” beginning on page 17 of this prospectus.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of the securities offered hereby or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus is January 27, 2025
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.