07:12 AM EDT, 04/29/2026 (MT Newswires) -- IDEX Biometrics (IDEX.OL) said Wednesday it raised 80 million Norwegian kroner through a two-tranche private placement of 9,696,969 new shares at 8.25 kroner apiece.

Proceeds will be used for the Norwegian biometrics company's commercialization plans and to help fast-track its profitability, the full and final settlement of the outstanding 22 million kroner of convertible bonds under the convertible loan held by Heights Capital Management, as well as for working capital requirements and other general corporate purposes.

Completion of the private placement remains subject to certain conditions.

Idex's board is also proposing to raise up to 20 million kroner via a subsequent offering of up to 2,424,242 new shares at the same price to reduce the dilutive effect of the placing transaction.