UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of November 2023
Commission file number: 001-41502
WEARABLE
DEVICES Ltd.
(Translation of registrant’s name into English)
5 Ha-Tnufa Street
Yokne-am Illit, Israel 2066736
(Address of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒
Form 40-F ☐
CONTENTS
On November 8,
2023, Wearable Devices Ltd. (the “Company”) issued a press release titled “Wearable Devices Announces Proposed Underwritten
Public Offering,” a copy of which is filed as Exhibit 99.1 with this Report of Foreign Private Issuer on Form 6-K (this “Report”).
This
Report of Foreign Private Issuer on Form 6-K, including its exhibit, is incorporated by reference into the Company’s Registration
Statements on Form S-8 (File No. 333-269869 and 333-274343) and Registration Statement
on Form F-3 (File No. 333-274841), filed with the Securities and Exchange Commission,
to be a part thereof from the date on which this Report is submitted, to the extent not superseded by documents or reports subsequently
filed or furnished.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
Wearable Devices Ltd. |
|
|
|
Date: November 8, 2023 |
By: |
/s/ Asher Dahan |
|
|
Asher Dahan |
|
|
Chief Executive Officer |
Exhibit 99.1
Wearable Devices Announces Proposed Underwritten Public Offering
YOKNEAM ILLIT, ISRAEL, Nov. 8, 2023 (GLOBE NEWSWIRE) -- Wearable
Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing
in AI-powered touchless sensing wearables, today announced that it intends to offer its securities in a firm commitment underwritten public
offering. The Company intends to use the net proceeds from this offering for working capital. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
In addition, the Company expects to grant Aegis Capital Corp. a 45-day
option to purchase additional ordinary shares of up to 15% of the number of ordinary shares sold in the offering solely to cover over-allotments,
if any.
Aegis Capital Corp. is acting as the sole book-running manager
for the offering.
This offering is being made pursuant to an effective shelf registration
statement on Form F-3 (No. 333-274841) declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October
18, 2023. A preliminary prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering will be
filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the preliminary prospectus
supplement and the accompanying shelf prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate
Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at (212)
813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying
prospectus and the other documents that the Company has filed with the SEC and that are incorporated by reference in such prospectus supplement
and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Wearable Devices Ltd.
Wearable Devices Ltd. is a growth company developing AI-based neural
input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates
innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle
finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a
B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable
Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware
to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s
ordinary shares and warrants trade on the Nasdaq Capital Market under the symbols “WLDS” and “WLDSW” respectively.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions
or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements
when it discusses the timing and terms of the offering and use of proceeds from the offering. Forward-looking statements are not historical
facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently
uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s
expectations, beliefs or projections will be achieved, and actual results may differ materially from what is expressed in, or indicated
by, the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance
or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the
date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent
events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent
required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn
that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.
References and links to websites have been provided as a convenience,
and the information contained on such websites is not incorporated by reference into this press release. Wearable Devices is not responsible
for the contents of third-party websites.
Investor Relations Contact
Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
Wearable Devices (NASDAQ:WLDS)
Historical Stock Chart
From Apr 2024 to May 2024
Wearable Devices (NASDAQ:WLDS)
Historical Stock Chart
From May 2023 to May 2024