Company Overview - Wearable Devices Ltd. is a pioneer in AI-based wearable gesture control technology, focusing on revolutionizing human-computer interaction through its innovative products like the Mudra Band and Mudra Link [6] - The company operates a dual-channel business model, including direct-to-consumer sales and enterprise licensing, targeting both consumer and business markets [6] Offering Details - The company announced a public offering of up to 2,500,000 ordinary shares and warrants to purchase an additional 2,500,000 ordinary shares at a combined offering price of $1.00 per share and warrant, expecting gross proceeds of approximately $2.5 million [1][2] - The closing of the offering is anticipated on or about January 30, 2025, subject to customary closing conditions [2] - The proceeds from the offering will be used for working capital and general corporate purposes [2] Warrant Amendments - In connection with the offering, the company will amend existing warrants previously issued to the investor, reducing the exercise price from $2.50 to $1.00 per share, with an expiration of five years following the closing of the offering [3] Regulatory Compliance - The securities are being offered under a registration statement on Form F-1, which was declared effective on January 28, 2025, and the offering is made only by means of a prospectus [4]
Wearable Devices Ltd. Announces Pricing of $2.5 Million Public Offering