Company Well-Positioned to Meet Increased Demand for Identification
MINNETONKA, MINNESOTA AND JERSEY CITY, NEW JERSEY - October 12, 2001 -
Visionics Corporation (Nasdaq: VSNX), the worldwide leader in identification
technologies and systems, announced today that it has completed a
million private placement of common stock.
“We are pleased to welcome our new institutional investors into the
Visionics family,” said Dr. Joseph J. Atick, chairman and CEO of Visionics
Corporation. “The Company is uniquely positioned in the marketplace with a
suite of biometric solutions ranging from core facial recognition technology
to fingerprint live scan systems, mobile identification systems and a
scalable platform for the delivery of biometric technology. This new
investment positions us well to respond to the anticipated demand for all of
our product offerings. It provides us with the working capital and needed
resources to propel our growth and maximize shareholder value,” he added.
Under terms of the financing, Visionics sold approximately 1.8 million
shares at .10 per share, representing a 10% discount to market close on
Thursday, October 4th, which was .34 per share. The financing
commitments for the private placement were obtained on Friday, October 5th
and all fund transfers were completed as of October 11th.
About Visionics Corporation
Visionics Corporation (Nasdaq:VSNX) is the worldwide leader in
identification technologies and systems. The Company is uniquely positioned
with a comprehensive set of biometric identification product offerings:
FaceIt®, live scan, IBIS and BNP. The award-winning core FaceIt® technology
enables a broad range of products and applications built by partners (OEMs,
VARs and system integrators). These include enhanced CCTV systems, identity
fraud applications and identity verification systems for physical and
network security, travel and banking. The TENPRINTER and FingerPrinter CMS
live scan systems are the most widely used by government agencies, law
enforcement, airports, banks and other commercial institutions in the US.
IBIS is a revolutionary mobile identification system capable of capturing
both forensic quality fingerprints and photographs for transmission and
wireless transmitting the data to law enforcement and other legacy databases
for real-time identification. Finally, the BNP is the only commercially
available platform for delivering scalable biometric solutions. It
incorporates FaceIt® technology for implementation over large-scale networks
and real-time identification. The product offerings are reflective of
Visionics’ leadership position in the biometric industry and commitment to
the innovation of identification technologies.
More information on Visionics can be accessed via the Company web site at
http://www.visionics.com or by calling Frances Zelazny, Director of
Corporate Communications at +1 201-332-9213.
The securities issued pursuant to the private placement have not been
registered under the Securities Act, and may not be offered or sold in the
United States absent registration or an applicable exemption from
This news release contains forward-looking statements that are subject to
certain risks and uncertainties that may cause actual results to differ
materially from those projected on the basis of such forward-looking
statements. Such forward-looking statements are made based on management's
beliefs, as well as assumptions made by, and information currently available
to, management pursuant to the “safe-harbor” provisions of the Private
Securities Litigation Reform Act of 1995. For a more complete description
of these and other risk factors which may affect the future performance of
Visionics Corporation, see “Risk Factors” in Digital Biometrics’ Annual
Report on Form 10-K for the period ended September 30, 2000 and its
quarterly report on Form 10-Q for the period ended June 30, 2001, Form 8-K
dated February 15, 2001 and the related Form 8-K/A, all of which have been
filed with the SEC.