Wearable Devices prices 4.44M shares at 45c in underwritten public offering

Wearable Devices announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $2.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The base offering consists of 4,444,444 ordinary shares at a price to the public of $0.45 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase ordinary shares of up to 15% of the number of ordinary shares sold in the offering solely to cover over-allotments, if any. The offering is expected to close on November 13, 2023, subject to the satisfaction of customary closing conditions. Aegis Capital Corp. is acting as the sole book-running manager for the offering.