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.
Craig-Hallum Capital Group is acting as sole managing
underwriter for the offering.
Net 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.
The 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 prospectus@chlm.com or on the SEC's website at www.sec.gov.
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 other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About DarioHealth Corp
DarioHealth Corp. (Nasdaq: DRIO) is a leading global Digital
Therapeutics (DTx) company revolutionizing the way people manage
their health across the chronic condition spectrum. By delivering
evidence-based interventions that are driven by data, high quality
software and coaching, we developed a novel approach that empowers
individuals to adjust their lifestyle in a personalized way. Our
Cross Functional Team operates at the intersection of life
sciences, behavioral science and software technology to deliver
highly engaging therapeutic interventions. Already one of the
highest rated diabetes solutions, its user-centric approach is
loved by tens of thousands consumers around the globe. DarioHealth
is rapidly moving into new chronic conditions and geographic
markets.
Cautionary Note Regarding Forward-Looking Statements:
This news release and the statements of representatives and
partners of DarioHealth Corp. related thereto contain or may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Statements that
are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the generality of the
foregoing, words such as "plan," "project," "potential," "seek,"
"may," "will," "expect," "believe," "anticipate," "intend,"
"could," "estimate" or "continue" are intended to identify
forward-looking statements. For example, the Company is using
forward-looking statements in this press release when the Company
discusses the expected closing of the offering and its intended use
of proceeds. Readers are cautioned that certain important
factors may affect the Company's actual results and could cause
such results to differ materially from any forward-looking
statements that may be made in this news release. Factors that may
affect the Company's results include, but are not limited to,
regulatory approvals, product demand, market acceptance, impact of
competitive products and prices, product development,
commercialization or technological difficulties, the success or
failure of negotiations and trade, legal, social and economic
risks, and the risks associated with the adequacy of existing cash
resources. Additional factors that could cause or contribute to
differences between the Company's actual results and
forward-looking statements include, but are not limited to, those
risks discussed in the Company's filings with the U.S. Securities
and Exchange Commission. Readers are cautioned that actual results
(including, without limitation, the timing for and results of the
Company's commercial and regulatory plans for Dario as described
herein) may differ significantly from those set forth in the
forward-looking statements. The Company undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise, except as required
by applicable law.
DarioHealth Contact:
Joao
Mendes-Roter
VP Marketing
joao@mydario.com
+1-347-767-4220
View original content to download
multimedia:http://www.prnewswire.com/news-releases/dariohealth-corp-announces-pricing-of-7-2-million-public-offering-of-common-stock-300854951.html
SOURCE DarioHealth Corp.