Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW), a technology company specializing in AI-powered touchless sensing wearables, has priced a $4 million registered direct offering with a single institutional investor. The company entered into a securities purchase agreement for 670,000 ordinary shares at $6.00 per share, priced at-the-market under Nasdaq rules.
The offering is expected to generate gross proceeds of 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, with closing expected on or about September 15, 2025, subject to customary closing conditions.
This capital infusion is significant for Wearable Devices Ltd., which develops AI-based neural input interface technology for both consumer and business markets. The company's flagship product, the Mudra Band for Apple Watch, integrates innovative 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 "touchlessly" with connected devices, representing a potential shift in how consumers engage with wearable technology.
The funding comes at a critical time for the extended reality industry, one of the most rapidly expanding landscapes in the technology sector. Wearable Devices Ltd. is committed to creating disruptive, industry-leading technology that leverages AI and proprietary algorithms, software, and hardware to set new input standards. The company also markets a business-to-business product utilizing the same technology as the Mudra Band, available to businesses on a licensing basis through their corporate communications platform at https://www.TechMediaWire.com.
For investors seeking additional information, the latest news and updates relating to WLDS are available in the company's newsroom at https://ibn.fm/WLDS. The successful completion of this offering demonstrates institutional confidence in Wearable Devices Ltd.'s technology and market position, potentially accelerating the adoption of touchless interaction methods across various industries and consumer applications.
