MELBOURNE, Fla., Dec. 21, 2017 (GLOBE NEWSWIRE) -- NXT-ID, INC. (NASDAQ:NXTD), a security technology company, today announced that it has entered into definitive agreements with certain institutional investors to purchase an aggregate of approximately $7,000,000 of shares of common stock in a registered direct offering. The common stock will be priced at $4.00 per share. Upon closing, the Company anticipates that it will issue a total of approximately 1,750,000 registered common shares. The Company intends to use the proceeds for further debt reduction, to fund its Crypto Currency exchange product development and for general corporate purposes.

About NXT- ID Inc. - Mobile Security for a Mobile World: (NXTD) 

NXT-ID, Inc. (NASDAQ:NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, NXT-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers' mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.