Wearable Devices Ltd. Announces $4 Million Direct Offering and Private Placement
Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (AI)-powered touchless sensing wearables, has announced a significant step forward in its growth strategy. The company has entered into a securities purchase agreement with a single institutional investor for the sale of 1,000,000 ordinary shares (or their equivalents) at $4.00 per share in a registered direct offering. This offering, priced at-the-market under Nasdaq rules, is expected to generate gross proceeds of approximately $4 million before deducting placement agent commissions and other expenses.
In addition to the direct offering, Wearable Devices will issue unregistered warrants in a concurrent private placement. These warrants, which allow the purchase of up to 1,000,000 ordinary shares, will have an exercise price of $4.00 per share, become exercisable immediately upon issuance, and will expire five years from the initial exercise date. The closing of both the direct offering and private placement is anticipated to occur on or around September 12, 2025, pending the satisfaction of customary closing conditions.
The company plans to use the net proceeds from this offering to support working capital and general corporate purposes.
Details of the Offering
The ordinary shares (or their equivalents) are being offered under a registration statement on Form F-3 (File No. 333-274841), which was declared effective by the U.S. Securities and Exchange Commission (SEC) on October 18, 2023. The offering will be conducted solely through a prospectus supplement and accompanying prospectus, both of which are part of the effective registration statement. These documents will be filed with the SEC and made available on its website at www.sec.gov. Additionally, electronic copies of the prospectus supplement and accompanying prospectus can be obtained from A.G.P./Alliance Global Partners, located at 590 Madison Avenue, 28th Floor, New York, NY 10022, by phone at (212) 624-2060, or via email at prospectus@allianceg.com.
The warrants and the shares underlying them, issued in the concurrent private placement, will be offered under an exemption from registration in accordance with Section 4(a)(2) of the Securities Act of 1933 and Regulation D. As such, these securities may not be sold in the United States unless registered or exempt from registration under applicable securities laws.
This announcement does not constitute an offer to sell or a solicitation to buy any securities, nor will there be any sale of these securities in jurisdictions where such offers or sales would be unlawful without proper registration or qualification under applicable securities laws.
About Wearable Devices Ltd.
Wearable Devices Ltd. is at the forefront of human-computer interaction, pioneering AI-powered neural input technology for touchless control. The company’s innovative products, including the Mudra Band and Mudra Link, redefine how users interact with digital devices, enabling intuitive, gesture-based control across multiple operating systems. These advancements position Wearable Devices as a leader in the neural input category for both wrist-worn devices and brain-computer interfaces.
The company operates through a dual-channel model, offering direct-to-consumer sales and enterprise licensing partnerships. Its products enhance user experiences in gaming, productivity, and extended reality (XR) environments. For enterprise clients, Wearable Devices provides advanced input solutions for immersive technologies, including augmented reality (AR), virtual reality (VR), and smart environments.
By setting the standard for neural input in the XR ecosystem, Wearable Devices is shaping the future of seamless, natural user experiences in some of the fastest-growing technology markets. The company’s ordinary shares and warrants are traded on the Nasdaq Capital Market under the symbols “WLDS” and “WLDSW,” respectively.
