Wearable Devices Ltd. Prices $4 Million Registered Direct Offering to Advance AI-Powered Touchless Technology
TL;DR
Wearable Devices secured $4 million in funding, providing investors an immediate opportunity to acquire shares at $6 with five-year warrants for potential future gains.
Wearable Devices conducted a registered direct offering of 670,000 shares at $6 each, with concurrent private placement warrants exercisable immediately and expiring in 2025.
This funding accelerates development of AI-powered touchless wearable technology, making human-device interaction more accessible and intuitive for everyone.
Wearable Devices' neural interface technology lets you control devices with subtle finger movements, merging science fiction with reality through innovative AI wearables.
Found this article helpful?
Share it with your network and spread the knowledge!
Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW), a technology company specializing in AI-powered touchless sensing wearables, has priced a $4 million registered direct offering. The company entered into a securities purchase agreement with a single institutional investor for 670,000 ordinary shares at $6.00 per share, priced at-the-market under Nasdaq rules. Gross proceeds are expected to be approximately $4 million before deducting placement agent commissions and expenses.
In a concurrent private placement, the company will issue unregistered warrants to purchase up to 670,000 ordinary shares at $6.00 per share. These warrants are exercisable immediately and will expire five years from issuance. The closing of the offering is expected on or about September 15, 2025, subject to customary closing conditions. This capital infusion represents a significant milestone for the company's growth strategy and technological development initiatives.
The funding comes at a critical time for the wearable technology industry, which is experiencing rapid expansion driven by increased demand for intuitive human-device interfaces. Wearable Devices Ltd. develops AI-based neural input interface technology for both business-to-consumer and business-to-business 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.
This technology allows users to interact with connected devices touchlessly, representing a significant advancement in human-computer interaction. The company also markets a B2B product utilizing the same technology, available to businesses on a licensing basis. The additional capital will enable the company to accelerate research and development efforts, expand its product offerings, and strengthen its position in the competitive wearable technology landscape.
The offering's implications extend beyond the company itself, potentially influencing the broader technology sector's approach to funding innovation. For investors, this transaction provides insight into institutional confidence in AI-powered wearable technology. The company's commitment to creating disruptive, industry-leading technology that leverages AI and proprietary algorithms, software, and hardware aims to set the input standard for the Extended Reality market, one of the most rapidly expanding landscapes in the tech industry.
Additional information about the company and its developments is available through its newsroom at https://ibn.fm/WLDS. The successful completion of this offering could signal growing investor interest in AI-driven interface technologies and may encourage similar companies to pursue strategic funding opportunities to accelerate technological advancement and market expansion.
Curated from InvestorBrandNetwork (IBN)
