Digimarc Announces Share Sale to Altai Capital Led Investor Group
28 Februar 2024 - 10:05PM
Business Wire
Digimarc Corporation (NASDAQ: DMRC), the pioneer and global
leader in digital watermarking technologies, today announced that
it has raised an aggregate of $32.5 million of gross proceeds
through the sale of 928,571 shares of common stock in concurrent
but independent transactions to new and existing investors. Altai
Capital, Digimarc’s second largest shareholder, participated in the
offering and acted as the registered investment advisor to certain
of the other investors in the offering.
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“We are excited for the long-term investment opportunity made
available to us and these new investors,” said Altai Capital
founder, Rishi Bajaj. “Altai Capital has been an investor in
Digimarc since 2021 shortly after the Company began its
transformation, and we have steadily increased our investment since
then. It has become clear to us that Digimarc’s market-leading
technology in physical and digital asset identification and
authentication have incredibly deep moats, and its market
opportunity is extremely large and expanding rapidly. We believe
this will allow Digimarc to drive profitable growth for years to
come, as recent results make obvious. We are thrilled to have other
prominent investors join us on this journey.”
“Since the inception of their investment, Altai has proven time
and again to be a true partner,” said Digimarc President and CEO,
Riley McCormack. “Accepting capital from Altai and other
value-added investors was an easy decision to make. We agree with
Rishi’s assessment that we have an incredible opportunity ahead of
us, and with a topped-off balance sheet and an expanded roster of
knowledgeable shareholders, we are well positioned to accelerate
our continued execution against that opportunity.”
About Digimarc
Digimarc Corporation (NASDAQ: DMRC) is the pioneer and global
leader in digital watermarking technologies. For nearly 30 years,
Digimarc innovations and intellectual property in digital
watermarking have been deployed at massive scale for the
identification and the authentication of physical and digital
items. A notable example of this is our partnership with a
consortium of the world’s central banks to deter counterfeiting of
global currency. Digimarc is also instrumental in supporting global
industry standards efforts spanning both the physical and digital
worlds. In 2023, Digimarc was named to the Fortune 2023 Change the
World list and honored as a 2023 Fast Company World Changing Ideas
finalist. Learn more at Digimarc.com.
About Altai Capital
Altai Capital Management is a technology-focused investment firm
founded in 2009 by Rishi Bajaj. Altai Capital makes long-term
investments across a diverse range of financial instruments,
including debt, private equity, venture capital, and publicly
traded securities. To learn more, visit www.altai.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240228979729/en/
Media Contacts: Susan Baldwin Digimarc Corporation
509-939-1137 PR@digimarc.com
Rishi Bajaj Altai Capital 949-326-9612 rbajaj@altai.com
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