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.