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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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240228979729/en/
"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."
Posted In: DMRC
