Wearable Devices has priced a $3.3 million private placement with a single institutional investor, selling 1 million ordinary shares and warrants for an additional 1 million shares at a combined price of $3.285 per unit. The warrants carry an exercise price of $3.16 per share, are immediately exercisable, and expire in five years. The offering was priced at-the-market under Nasdaq rules and above the last closing price. The company expects the deal to close around August 3, 2026, and plans to use the net proceeds for commercialization of its Mudra products, development of next-generation lines, advancement of AI6 Labs initiatives including Physical AI and Robotics, potential strategic transactions, and general working capital. A.G.P./Alliance Global Partners acted as sole placement agent.
Wearable Devices Ltd.Priced $3.3M private placement providing capital for commercialization and development.