SCHEDULE: AIGH Capital Management and Orin Hirschman Update Passive Stake in Intellicheck

AIGH Capital Management, LLC and Orin Hirschman have updated their passive beneficial ownership in Intellicheck, Inc., holding 0.8% of common stock as of June 30, 2025.

Summary

• Orin Hirschman, AIGH Capital Management, LLC, and AIGH Investment Partners, L.L.C. are jointly filing this Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Intellicheck, Inc.
• The reporting persons collectively beneficially own 154,174 shares of Intellicheck, Inc. Common Stock.
• This ownership represents 0.8% of the class of Common Stock outstanding, as reported on the cover pages for both Orin Hirschman and AIGH Capital Management, LLC.
• The reporting persons hold sole voting power and sole dispositive power over all 154,174 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Intellicheck, Inc.

Sentiment

Score: 5

Explanation: This filing is a routine disclosure of beneficial ownership by a passive investor and does not contain information about the company's financial performance or strategic direction, thus maintaining a neutral sentiment.

Positives

• The continued investment by AIGH Capital Management, LLC and Orin Hirschman indicates ongoing confidence in Intellicheck, Inc. as a passive holding.

Negatives

• The beneficial ownership stake of 0.8% is relatively small, indicating a limited influence on the company's strategic direction or operations.

Risks

• Not applicable as this filing pertains to beneficial ownership disclosure, not company operational risks.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Intellicheck, Inc.'s future performance or outlook.

Industry Context

This filing is a routine disclosure of a passive investment by an investment advisor in a publicly traded technology company. It does not provide specific insights into broader industry trends or competitive dynamics beyond the fact of the investment itself.

Stakeholder Impact

• Minimal direct impact on stakeholders as this is a passive ownership disclosure. Shareholders may note the continued investment by AIGH Capital Management, LLC and Orin Hirschman.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive beneficial ownership stake by AIGH Capital Management, LLC and Orin Hirschman in Intellicheck, Inc. The filing indicates a 0.8% ownership, which is below the 5% threshold for active influence and is explicitly stated as not being for control purposes. As such, it provides no new material information regarding the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. The current holding is a continuation of a passive investment, suggesting no immediate catalyst for significant price movement based solely on this filing. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions while awaiting more substantive company-specific news.

Keywords

Intellicheck, AIGH Capital Management, Orin Hirschman, Schedule 13G, Beneficial Ownership, Common Stock, Passive Investment, SEC Filing