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Rail Vision Ltd. Announces Closing of $15.6 Million Initial Public Offering
Ra’anana, Israel, April 04, 2022 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (the “Company”) (Nasdaq: RVSN), a development stage technology company that is seeking
About this update from Rail Vision Ltd.
[{"type":"text","content":"Ra’anana, Israel, April 04, 2022 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (the “Company”) (Nasdaq: RVSN), a development stage technology company that is seeking to revolutionize railway safety and the data-related market, today announced the closing of its initial public offering of 3,787,241 ordinary shares and accompanying warrants to purchase 3,787,241 ordinary shares. Each ordinary share was sold together with one warrant to purchase one ordinary share with an exercise price of $4.13 at a combined public offering price of $4.13 per share and accompanying warrant. Gross proceeds for the offering were approximately $15.6 million, before deducting underwriting discounts and commissions and estimated offering expenses. The Company granted Aegis Capital Corp, the underwriter (“Aegis”), a 45-day over-allotment option to purchase additional ordinary shares and/or warrants to purchase additional ordinary shares up to 15% of the number of ordinary shares and warrants, respectively, sold in the offering solely to cover over-allotments, if any. On April 4, 2022, Aegis partially exercised its over-allotment option with respect to 568,086 warrants to purchase ordinary shares. The ordinary shares and warrants began trading on The Nasdaq Capital Market on March 31, 2022, under the symbols “RVSN” and “RVSNW,” respectively. Aegis Capital Corp. acted as the sole book-running manager for the offering. A registration statement on Form F-1 (No. 333-262854) relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on March 30, 2022. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, on the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction About Rail Vision Ltd. Rail Vision is a development stage technology...