Wearable Devices Warrant Inducement Transaction for $1.2 M in Gross Proceeds

Wearable Devices has secured $1.2 million in gross proceeds through a warrant inducement transaction with an existing institutional investor. The deal involves the immediate exercise of warrants to purchase 830,500 ordinary shares at a reduced price of $1.45 per share.

As part of the agreement, the investor will receive new unregistered warrants to purchase up to 1,661,000 ordinary shares through a private placement. These new warrants will:Have an exercise price of $1.45 per share
Be exercisable upon issuance
Expire in five years

The transaction is expected to close around April 30, 2025. The company plans to use the proceeds for working capital and general corporate purposes. The private placement relies on exemptions under Section 4(a)(2) of the Securities Act and Regulation D.\

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