Exciting News in the Tech World!
A Game-Changing Announcement from Wearable Devices Ltd.
Yokneam Illit, Israel, Jan. 30, 2025 (GLOBE NEWSWIRE) —
Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, recently made a groundbreaking announcement. The Company has successfully closed its public offering with a single institutional investor, marking a significant milestone in the tech industry.
The public offering included the purchase and sale of 345,000 ordinary shares, 2,155,000 pre-funded warrants, and warrants to purchase up to 2,500,000 ordinary shares, all at a combined offering price of $1.00 per share and accompanying warrant. This move has brought in approximately $2.5 million in gross proceeds for Wearable Devices, paving the way for further innovation and growth in the AI-based wearable technology space.
The newly issued warrants have an exercise price of $1.00 per share, allowing investors to take advantage of this exciting opportunity. With immediate exercisability and a five-year expiration date, these warrants offer a unique chance to be a part of Wearable Devices’ future success.
How Does This Announcement Affect Me?
As a consumer, this announcement could mean exciting new advancements in wearable technology that may enhance your daily life. With Wearable Devices’ focus on AI-based gesture control technology, you can expect more intuitive and interactive wearable devices in the near future.
How Does This Announcement Affect the World?
On a global scale, this announcement signals the growing importance of AI technology in various industries. Wearable Devices’ success in securing funding for their innovative technology showcases the potential for AI to revolutionize the way we interact with devices and technology, impacting the world at large.
In Conclusion
With the successful completion of its public offering, Wearable Devices Ltd. is poised to lead the way in AI-based wearable technology. This announcement not only marks a significant milestone for the Company but also paves the way for exciting advancements in the tech world. Keep an eye out for Wearable Devices’ future innovations as they continue to shape the future of wearable technology!
