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New 6K
$Wearable Devices (WLDS.US)$ Exhibit 99.1
Wearable Devices Ltd. Announces Closing of $1.85 Million Registered Direct Offering and
Concurrent Private Placement
Yokneam Illit, Israel, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, today announced that it has closed its registered direct offering and concurrent private placement, announced on November 26, 2024, for the issuance and sale of 822,000 ordinary shares (or ordinary share equivalents) in a registered direct offering and warrants to purchase up to 822,000 of its ordinary shares in concurrent private placement at a combined purchase price of $2.25 per ordinary share. The warrants issued pursuant to the concurrent private placement have an exercise price of $2.50 per ordinary share, are immediately exercisable and expire five years following the date of issuance.
The gross proceeds from the offerings, before deducting the placement agent’s fees and other offering expenses payable by the Company, are approximately $1.85 million, excluding any proceeds that may be received upon the exercise of the Warrants. The Company intends to use the net proceeds from the offerings for working capital and general corporate purposes.
A.G.P./Alliance Global Partners acted as sole placement agent for the offerings.
The ordinary shares (or ordinary share equivalents in lieu thereof) issued to the institutional investor described above were issued pursuant to a registration statement on Form F-3 (File No. 333-274841), which was declared effective by the Securities and Exchange Commission (the “SEC”) on October 18, 2023. The warrants were issued in a concurrent private placement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
The private placement of the warrants and the shares underlying the Warrants offered to the institutional investor was made in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) and Regulation D promulgated thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
Wearable Devices Ltd. Announces Closing of $1.85 Million Registered Direct Offering and
Concurrent Private Placement
Yokneam Illit, Israel, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, today announced that it has closed its registered direct offering and concurrent private placement, announced on November 26, 2024, for the issuance and sale of 822,000 ordinary shares (or ordinary share equivalents) in a registered direct offering and warrants to purchase up to 822,000 of its ordinary shares in concurrent private placement at a combined purchase price of $2.25 per ordinary share. The warrants issued pursuant to the concurrent private placement have an exercise price of $2.50 per ordinary share, are immediately exercisable and expire five years following the date of issuance.
The gross proceeds from the offerings, before deducting the placement agent’s fees and other offering expenses payable by the Company, are approximately $1.85 million, excluding any proceeds that may be received upon the exercise of the Warrants. The Company intends to use the net proceeds from the offerings for working capital and general corporate purposes.
A.G.P./Alliance Global Partners acted as sole placement agent for the offerings.
The ordinary shares (or ordinary share equivalents in lieu thereof) issued to the institutional investor described above were issued pursuant to a registration statement on Form F-3 (File No. 333-274841), which was declared effective by the Securities and Exchange Commission (the “SEC”) on October 18, 2023. The warrants were issued in a concurrent private placement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
The private placement of the warrants and the shares underlying the Warrants offered to the institutional investor was made in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) and Regulation D promulgated thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
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