IceCure Medical Issues 8M Shares at $0.50 Each

IceCure Medical announced that it has entered into securities purchase agreements with healthcare focused institutional investors for the purchase and sale of 8M ordinary shares at a purchase price of 50c per share in a registered direct offering. The gross proceeds from the offering are expected to be approximately $4M, before deducting placement agent fees and other offering expenses. In addition, in a concurrent private placement, IceCure will issue and sell unregistered Series B warrants to purchase up to 8M ordinary shares and Series C warrants to purchase up to 8M ordinary shares. The Warrants will have an exercise price of 55c per share and will be exercisable immediately upon issuance. The Series B Warrants will expire five years following the date of issuance and the Series C Warrants will expire one year following the date of issuance. The closing of the offering is expected to occur on or about March 27, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.