CAESAREA, Israel, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Itamar Medical Ltd. (NASDAQ:ITMR) (TASE: ITMR), a medical technology company focused on the development and commercialization of non-invasive medical devices to aid in the diagnosis of respiratory sleep disorders, today announced the closing of its upsized public offering of 2,927,267 American Depositary Shares ("ADSs"), which includes the full exercise of the underwriters' option to purchase 381,817 additional ADSs, at a public offering price of $13.75 per ADS, for total gross proceeds of approximately $40.25 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Itamar Medical. Each ADS represents 30 ordinary shares of Itamar Medical. All ADSs are being offered by Itamar Medical.
Itamar Medical intends to use the net proceeds from the offering to hire additional sales and marketing personnel and expand its marketing programs, fund product development, research and development activities and clinical research, invest in information technology and facility infrastructure, and for working capital and general corporate purposes.
Piper Sandler acted as sole bookrunner for the offering. Ladenburg Thalmann and A.G.P./Alliance Global Partners acted as co-managers for the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or 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 jurisdiction.
About Itamar Medical Ltd.
Forward-Looking Statements
Company Contact
Itamar Medical Ltd.
Shy Basson
Chief Financial Officer
Phone: +972-4-617-7700
Investor Relations Contact
David Carey
Lazar FINN Partners
[email protected]
Phone: 212-867-1762
Eran Gabbai, Partner
Galbert-Kahana Investor Relations and Public Relations
Phone: +972-54-2467378
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