BOSTON, MA: SoundView Technology Group: NXT-ID has effectively raised an additional round of capital that will come in two tranches -- $1.35M less expenses up front and another $4.4M from likely warrant exercises. The proceeds will aid the company in further development and the commercial launch of their innovative digital wallet.

In an unusually shareholder-friendly move founding members of the management team elected to surrender shares to offset the additional shares need for new investment capital. Few, if any, company managements go to such lengths to put shareholders first.

Thanks to this decision an adjustment to our intrinsic valuation (IV) model results in an increase from $10.93 (published in December 2013) and our new IV estimate of $11.51.

Market forces continue to favor adoption of digital wallet technologies and NXT-ID is certainly one of the leading contenders for what will be a commercial market in 2014.