Wearable Devices plans for stock offering, size not disclosed; shares fall

Nov. 08, 2023 6:15 PM ETWearable Devices Ltd. (WLDS)By: Ahmed Farhath, SA News Editor

  • Wearable Devices (NASDAQ:WLDS) said Wednesday it intends to offer and sell its shares in an underwritten public offering.

  • The net proceeds from the offering will be used for working capital.

  • The pricing terms and the number of shares to be offered were not disclosed.

  • The underwriter will also have a 45-day option to purchase up to 15% of additional ordinary shares to cover over-allotments, if any.

  • Aegis Capital is acting as the sole book-running manager for the offering.

  • Press Release.

  • Shares -22.11% at 71 cents afterhours.

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