Wearable Devices Ltd. Announces $4 Million Registered Direct Offering to Advance AI-Powered Touchless Technology
TL;DR
Wearable Devices secures $4 million in funding to accelerate development of its AI-powered touchless technology, offering investors early access to disruptive extended reality input solutions.
Wearable Devices sold 1 million shares at $4 each in a registered direct offering with concurrent warrants exercisable at $4 for five years from issuance.
This funding advances touchless AI technology that enables more intuitive human-device interaction, making technology more accessible and inclusive for diverse users worldwide.
Wearable Devices' Mudra Band uses AI sensors to detect subtle wrist movements, allowing touchless control of devices through innovative neural interface technology.
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Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW) has entered into a securities purchase agreement with a single institutional investor for a $4 million registered direct offering. The company will sell 1,000,000 ordinary shares at $4.00 per share, priced at-the-market under Nasdaq rules, with expected gross proceeds of $4 million before expenses. This financing arrangement represents a significant capital infusion for the technology growth company specializing in AI-powered touchless sensing wearables.
In a concurrent private placement, the company will issue unregistered warrants to purchase up to 1,000,000 additional ordinary shares at the same $4.00 per share price. These warrants are exercisable immediately and will expire five years from issuance, providing the investor with long-term exposure to the company's growth potential. The closing of both transactions is anticipated on or about September 12, 2025, subject to customary closing conditions.
The capital raised through this offering is expected to accelerate the development and commercialization of Wearable Devices' innovative technology platform. The company's flagship product, the Mudra Band for Apple Watch, integrates AI-based technology and algorithms into a functional wristband that utilizes proprietary sensors to identify subtle finger and wrist movements. This technology enables users to interact with connected devices through touchless gestures, representing a significant advancement in human-device interaction.
For the technology industry and investors, this financing demonstrates continued confidence in the growth potential of AI-powered wearable technology. The Extended Reality market, which includes virtual reality, augmented reality, and mixed reality applications, represents one of the fastest-growing segments in the technology sector. Wearable Devices' technology positions the company at the forefront of this expansion, offering both B2C and B2B solutions through products like the Mudra Band and licensing arrangements for businesses.
The company's commitment to creating disruptive, industry-leading technology that leverages AI and proprietary algorithms, software, and hardware could potentially set new standards for input methods in the Extended Reality landscape. As more details become available, investors and industry observers can monitor developments through the company's newsroom at https://ibn.fm/WLDS. This financing round not only provides immediate capital for growth but also validates the company's technology roadmap and market positioning in the competitive wearable technology space.
Curated from InvestorBrandNetwork (IBN)
