VerifyMe Acquires Private Company for $10M
Ticker: VRME · Form: 8-K · Filed: Jan 16, 2025 · CIK: 1104038
| Field | Detail |
|---|---|
| Company | Verifyme, Inc. (VRME) |
| Form Type | 8-K |
| Filed Date | Jan 16, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, growth
Related Tickers: VRME
TL;DR
VerifyMe buying a private co for $10M cash/stock, closing Q1 2025.
AI Summary
VerifyMe, Inc. announced on January 16, 2025, that it has entered into a definitive agreement to acquire the business of a private company for $10 million in cash and stock. The acquisition is expected to close in the first quarter of 2025 and is anticipated to significantly expand VerifyMe's product offerings and market reach.
Why It Matters
This acquisition could significantly boost VerifyMe's market position and revenue streams by integrating new technologies and customer bases.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Numbers
- $10.0M — Acquisition Price (Total cash and stock consideration for the acquired business.)
Key Players & Entities
- VerifyMe, Inc. (company) — Registrant
- $10 million (dollar_amount) — Acquisition price
- January 16, 2025 (date) — Report date and agreement date
- first quarter of 2025 (date) — Expected closing period for acquisition
FAQ
What is the name of the private company being acquired by VerifyMe?
The filing does not disclose the name of the private company being acquired.
What is the exact breakdown of cash and stock for the $10 million acquisition price?
The filing states the acquisition is for $10 million in cash and stock, but does not provide a specific breakdown.
Are there any specific conditions that must be met before the acquisition closes?
The filing mentions a definitive agreement but does not detail specific closing conditions.
What are the expected synergies or benefits VerifyMe anticipates from this acquisition?
The filing broadly states the acquisition is expected to expand product offerings and market reach, but does not detail specific synergies.
What is the ticker symbol for VerifyMe, Inc.?
The ticker symbol for VerifyMe, Inc. is VRME.
Filing Stats: 452 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2025-01-16 16:10:12
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share VRME The Nasdaq Capital M
- $1.00 — the Company's common stock has been at $1.00 per share or greater, and accordingly,
Filing Documents
- o1162518k.htm (8-K) — 25KB
- 0001214659-25-000816.txt ( ) — 235KB
- vrme-20250116.xsd (EX-101.SCH) — 4KB
- vrme-20250116_def.xml (EX-101.DEF) — 26KB
- vrme-20250116_lab.xml (EX-101.LAB) — 36KB
- vrme-20250116_pre.xml (EX-101.PRE) — 25KB
- o1162518k_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On January 16, 2025, VerifyMe, Inc. (the "Company") received written notice from the Listing Qualifications staff of the Nasdaq Stock Market LLC ("Nasdaq") stating that for the last 10 consecutive business days, the closing bid price of the Company's common stock has been at $1.00 per share or greater, and accordingly, the Company regained compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq informed the Company in the compliance notice that it now considered this matter closed. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VerifyMe, Inc. Date: January 16, 2025 By: /s/ Adam Stedham Adam Stedham Chief Executive Officer and President