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DarioHealth starts $10.3M securities offering

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DarioHealth starts $10.3M securities offering

DarioHealth Corp. is selling common stock, warrants and series D preferred stock to 32 investors under an offering.

The Israel-based healthcare equipment company is offering 4,266,800 common and 1,806,923 series D preferred stock, plus warrants that can be exchanged for up to an additional 9,195,604 common shares at $1.25 each.

The common shares and preferred stock are priced at 90 cents and $3.60 apiece, respectively. The preferred stocks are convertible into a total of 7,227,692 common shares based on a conversion price of 90 cents each.

DarioHealth expects gross proceeds of $10.3 million from the offering which is expected to close by Sept. 13.

Alliance Global Partners acted as a placement agent for a part of the offering.