BEAVERTON, Ore. – February 28, 2024 – 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.
“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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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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