Aware Bolsters Balance Sheet with $8.85 Million in Cash Proceeds from Bedford, MA Building Sale
BEDFORD, Mass., July 06, 2022 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ: AWRE), a leading authentication company applying proven and trusted adaptive authentication to solve everyday business challenges with biometrics, has received $8.85 million in cash proceeds from the previously announced sale of its outdated building located in Bedford, MA. In April 2022, the Company leased a more modern building in Burlington, MA and plans to occupy the building before year end.
“As previously announced, we have closed our transaction with FDS Bedford, LLC for $8.85 million,” said David Barcelo, chief financial officer of Aware. “Netting more than $8 million after transaction-related expenses, Aware's robust balance sheet continues to grow and provides us with additional flexibility to pursue both organic growth and strategic investment opportunities. We are excited about the additional capital as we continue to execute our multipronged strategy to transform into a subscription-based SaaS platform company.”
For additional details regarding the building sale, please refer to the Form 8-K filed on July 6, 2022 with the Securities and Exchange Commission.
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