Wearable Devices Ltd. (NASDAQ: WLDS, WLDSW) has successfully priced a $4 million registered direct offering, marking a significant financial milestone for the technology company specializing in AI-powered touchless sensing wearables. The company entered into a securities purchase agreement with a single institutional investor for 670,000 ordinary shares at $6.00 per share, priced at-the-market under Nasdaq rules. Gross proceeds from the offering are expected to be 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 additional ordinary shares at the same $6.00 per share price. These warrants are exercisable immediately and will expire five years from issuance, providing the investor with additional flexibility and potential upside. The closing of the offering is expected on or about September 15, 2025, subject to customary closing conditions.
The capital infusion comes at a critical time for Wearable Devices as it continues to develop and market its innovative neural input interface technology. The company's flagship product, the Mudra Band for Apple Watch, represents a breakthrough in wearable technology by integrating AI-based technology and algorithms into a functional wristband. This technology utilizes proprietary sensors to identify subtle finger and wrist movements, enabling users to interact with connected devices without physical contact.
Beyond consumer applications, Wearable Devices also markets a B2B product utilizing the same core technology, available to businesses on a licensing basis. The company's commitment to creating disruptive, industry-leading technology positions it at the forefront of the Extended Reality landscape, one of the fastest-growing segments in the technology industry. The funding will likely accelerate research and development efforts, expand market reach, and strengthen the company's competitive position in both consumer and enterprise markets.
The offering represents a vote of confidence from institutional investors in Wearable Devices' technology and growth potential. Investors can access the latest news and updates through the company's newsroom at https://ibn.fm/WLDS. The successful completion of this financing round demonstrates the growing investor interest in AI-powered wearable technology and sets the stage for Wearable Devices' continued innovation and market expansion in the rapidly evolving tech landscape.
