L-1 Identity adjusts price for Digimarc shares

The adjustment is based on the number of shares expected to be outstanding at the expiration of L-1's tender offer. The company is still paying a total of $310 million.

In addition to the cash, Digimarc shareholders will receive shares in a spun-off company that will hold Digimarc's digital watermarking business and its cash.

Digimarc shares rose 26 cents, or 1.9 percent, to $13.86 in Thursday afternoon trading.

Stamford-based L-1 Identity makes systems that identify people based on their faces, fingerprints or iris patterns. Beaverton, Ore.-based Digimarc is a leading maker of drivers' licenses.