DarioHealth Corp. Announces Pricing of $7.2 Million Public Offering of Common Stock

5/22/2019 7:43:36 AM

(MENAFN- PR Newswire)
CAESAREA, Israel, May 22, 2019 /PRNewswire/ -- DarioHealth Corp. (Nasdaq:DRIO ) ("DarioHealth" or the "Company"), a global digital therapeutics innovator, today announced the pricing of an underwritten public offering of 4,855,341 shares of common stock at a price to the public of $0.60 per share and pre-funded warrants to purchase 7,175,525 shares of common stock at a price to the public of $0.5999 per pre-funded warrant for aggregate gross proceeds of approximately $7,200,000, before underwriting discounts and offering expenses. The pre-funded warrants have an exercise price of $0.0001 and are immediately exercisable until exercised in full and include a beneficial ownership blocker of 9.99%. The offering is expected to close on or about May 24, 2019, subject to the satisfaction of customary closing conditions.

Craig-Hallum Capital Group is acting as sole managing underwriter for the offering.

Net proceeds of the offering, after underwriting discounts but before offering expenses, are expected to be approximately $6,785,000. DarioHealth intends to use the net proceeds of the offering for commercialization efforts for its products, such as increased marketing or production expenses, and for general working capital purposes.

The shares, pre-funded warrants and shares of common stock underlying the pre-funded warrants are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-212644) that was previously filed with the Securities and Exchange Commission (the "SEC"), and was declared effective on August 3, 2016. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus related to the offering, when available, may be obtained from Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, Attention: Equity Capital Markets, by telephone at 612-334-6300, or by email r on the SEC's website atwww.sec.gov .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About DarioHealth Corp

DarioHealth Corp. (Nasdaq:DRIO ) is a leading global Digital Therapeutics (DTx) company revolutionizing the way people manage their health across the chronic condition spectrum. By delivering evidence-based interventions that are driven by data, high quality software and coaching, we developed a novel approach that empowers individuals to adjust their lifestyle in a personalized way. Our Cross Functional Team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Already one of the highest rated diabetes solutions, its user-centric approach is loved by tens of thousands consumers around the globe. DarioHealth is rapidly moving into new chronic conditions and geographic markets.

Cautionary Note Regarding Forward-Looking Statements:

This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. For example, the Company is using forward-looking statements in this press release when the Company discusses the expected closing of the offering and its intended use of proceeds. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

DarioHealth Contact:Joao Mendes-RoterVP Marketing +1-347-767-4220

SOURCE DarioHealth Corp.