Wearable Devices Announces Proposed Underwritten Public Offering
08 Noviembre 2023 - 4:57PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
AI-powered touchless sensing wearables, today announced that it
intends to offer its securities in a firm commitment underwritten
public offering. The Company intends to use the net proceeds from
this offering for working capital. The offering is subject to
market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
In addition, the Company expects to grant Aegis Capital Corp. a
45-day option to purchase additional ordinary shares of up to 15%
of the number of ordinary shares sold in the offering solely to
cover over-allotments, if any.
Aegis Capital Corp. is acting as the sole book-running
manager for the offering.
This offering is being made pursuant to an effective shelf
registration statement on Form F-3 (No. 333-274841) declared
effective by the U.S. Securities and Exchange Commission (the
"SEC") on October 18, 2023. A preliminary prospectus supplement and
accompanying shelf prospectus describing the terms of the proposed
offering will be filed with the SEC and will be available on the
SEC's website located at http://www.sec.gov. Electronic copies of
the preliminary prospectus supplement and the accompanying shelf
prospectus may be obtained, when available, by contacting Aegis
Capital Corp., Attention: Syndicate Department, 1345 Avenue of the
Americas, 27th floor, New York, NY 10105, by email at
syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before
investing in this offering, interested parties should read in their
entirety the prospectus supplement and the accompanying prospectus
and the other documents that the Company has filed with the SEC and
that are incorporated by reference in such prospectus supplement
and the accompanying prospectus, which provide more information
about the Company and such offering.
This 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 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 Wearable Devices Ltd.
Wearable Devices Ltd. is a growth company developing AI-based
neural input interface technology for the B2C and B2B markets. The
Company’s flagship product, the Mudra Band for Apple Watch,
integrates innovative AI-based technology and algorithms into a
functional, stylish wristband that utilizes proprietary sensors to
identify subtle finger and wrist movements allowing the user to
“touchlessly” interact with connected devices. The Company also
markets a B2B product, which utilizes the same technology and
functions as the Mudra Band and is available to businesses on a
licensing basis. Wearable Devices Is committed to creating
disruptive, industry leading technology that leverages AI and
proprietary algorithms, software, and hardware to set the input
standard for the Extended Reality, one of the most rapidly
expanding landscapes in the tech industry. The Company’s ordinary
shares and warrants trade on the Nasdaq Capital Market under the
symbols “WLDS” and “WLDSW” respectively.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, the Company is using
forward-looking statements when it discusses the timing and terms
of the offering and use of proceeds from the offering.
Forward-looking statements are not historical facts, and are based
upon management’s current expectations, beliefs and projections,
many of which, by their nature, are inherently uncertain. Such
expectations, beliefs and projections are expressed in good faith.
However, there can be no assurance that management’s expectations,
beliefs or projections will be achieved, and actual results may
differ materially from what is expressed in, or indicated by, the
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
forward-looking statements. Forward-looking statements speak only
as of the date the statements are made. The Company assumes no
obligation to update forward-looking statements to reflect actual
results, subsequent events or circumstances, changes in assumptions
or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws. If the
Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements.
References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Wearable Devices
is not responsible for the contents of third-party websites.
Investor Relations Contact
Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
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