Business
DarioHealth Corp. Announces Pricing of $7.2 Million Public Offering of Common Stock
CAESAREA, Israel, May 22, 2019 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("DarioHealth" or the "Company"), a global digital therapeutics innovator,
About this update from Dariohealth Corp.
[{"type":"text","content":"CAESAREA, Israel, May 22, 2019 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) (\"DarioHealth\" or the \"Company\"), a global digital therapeutics innovator, today announced the pricing of an underwritten public offering of 4,855,341 shares of common stock at a price to the public of $0.60 per share and pre-funded warrants to purchase 7,175,525 shares of common stock at a price to the public of $0.5999 per pre-funded warrant for aggregate gross proceeds of approximately $7,200,000, before underwriting discounts and offering expenses. The pre-funded warrants have an exercise price of $0.0001 and are immediately exercisable until exercised in full and include a beneficial ownership blocker of 9.99%. The offering is expected to close on or about May 24, 2019, subject to the satisfaction of customary closing conditions.\n\n \nCraig-Hallum Capital Group is acting as sole managing underwriter for the offering. \nNet proceeds of the offering, after underwriting discounts but before offering expenses, are expected to be approximately $6,785,000. DarioHealth intends to use the net proceeds of the offering for commercialization efforts for its products, such as increased marketing or production expenses, and for general working capital purposes.\nThe shares, pre-funded warrants and shares of common stock underlying the pre-funded warrants are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-212644) that was previously filed with the Securities and Exchange Commission (the \"SEC\"), and was declared effective on August 3, 2016. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus related to the offering, when available, may be obtained from Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, Attention: Equity Capital Markets, by telephone at 612-334-6300, or by email at [email protected] or on the SEC's website at www.sec.gov.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be u...