Wearable Devices prices $4 million registered direct offering

Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW) announced it entered into a securities purchase agreement with an institutional investor for a registered direct offering of 1 million ordinary shares at $4.00 per share, according to a company statement.

The Israeli technology company expects gross proceeds of approximately $4 million before deducting placement agent commissions and other offering expenses. The offering is priced at-the-market under Nasdaq rules.

In a concurrent private placement, Wearable Devices will issue warrants to purchase up to 1 million ordinary shares. The warrants carry an exercise price of $4.00 per share, are exercisable immediately upon issuance, and expire five years following the initial exercise date.

The transaction is expected to close on or about September 12, 2025, subject to customary closing conditions. The company stated it intends to use net proceeds for working capital and general corporate purposes.

The ordinary shares are being offered under a registration statement on Form F-3 that was declared effective by the Securities and Exchange Commission on October 18, 2023. The warrants will be issued in the private placement under an exemption from registration requirements.

A.G.P./Alliance Global Partners is serving as placement agent for the offering.

Wearable Devices develops AI-powered touchless sensing wearables and neural input technology. The company's products include the Mudra Band and Mudra Link, which enable gesture-based control of digital devices.

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