AIRPORT CITY, Israel,
Jan. 16, 2020 /PRNewswire/ -- My
Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), the developer and creator of smartphone measurement
solutions, today announced that it has entered into definitive
agreements with certain institutional investors for the purchase in
a registered direct offering of 514,801 shares of its common stock,
at a purchase price per share of $3.885, priced at-the-market under Nasdaq
rules. Additionally, My Size has agreed to issue to the
investors unregistered warrants to purchase up to 514,801 shares of
common stock. The warrants have an exercise price of $3.76 per share of common stock, will be
exercisable immediately and will expire five and a half years from
the issuance date.
The closing of the offering is expected to occur on or about
January 17, 2020, subject to the
satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds to My Size, before deducting placement agent
fees and other offering expenses, are expected to be approximately
$2 million. My Size currently intends
to use the net proceeds from this offering for general corporate
purposes and working capital.
The shares of common stock (but not the warrants or the shares
of common stock underlying the warrants) are being offered by
My Size pursuant to a "shelf" registration statement on Form S-3
that was originally filed on January 12,
2018 and declared effective by the Securities and Exchange
Commission ("SEC") on January 25,
2018 and the base prospectus contained therein (File No.
333-222535). The offering of the shares of common stock is being
made only by means of a prospectus supplement that forms a part of
the registration statement. A final prospectus supplement and
accompanying base prospectus relating to the shares of common stock
being offered will be filed with the SEC. Electronic copies of the
final prospectus supplement and accompanying base prospectus may be
obtained, when available, on the SEC's website at
http://www.sec.gov or by contacting H.C. Wainwright & Co.,
LLC at 430 Park Avenue, 3rd Floor, New
York, NY 10022, by phone at 646-975-6996 or e-mail at
placements@hcwco.com.
The warrants described above were offered in a private placement
under Section 4(a)(2) of the Securities Act of 1933, as amended
(the "Act"), and Regulation D promulgated thereunder and, along
with the shares of common stock underlying the warrants, have not
been registered under the Act, or applicable state securities laws.
Accordingly, the warrants and underlying shares of common stock may
not be offered or sold in the United
States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Act and such applicable state securities
laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy any of the securities described
herein, 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 My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique
measurement technology based on sophisticated algorithms and
cutting-edge technology with broad applications including the
apparel, e-commerce, DIY, shipping and parcel delivery industries.
This proprietary measurement technology is driven by several
algorithms which are able to calculate and record measurements in a
variety of novel ways. To learn more about My Size, please visit
our website: www.mysizeid.com. We routinely post information that
may be important to investors in the Investor Relations section of
our website.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including
statements pertaining to the registered direct offering,
timing, the amount and anticipated use of proceeds. These
statements are identified by the use of the words "could,"
"believe," "anticipate," "intend," "estimate," "expect," "may,"
"continue," "predict," "potential," "project" and similar
expressions that are intended to identify forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. You should not place undue reliance on
these forward-looking statements. Although we believe that our
plans, objectives, expectations and intentions reflected in or
suggested by the forward-looking statements are reasonable, we can
give no assurance that these plans, objectives, expectations or
intentions will be achieved. Forward-looking statements involve
significant risks and uncertainties (some of which are beyond our
control) and assumptions that could cause actual results to differ
materially from historical experience and present expectations or
projections, including, without limitation, market conditions and
the satisfaction of customary closing conditions. Actual results to
differ materially from those in the forward-looking statements and
the trading price for our common stock may fluctuate significantly.
Forward-looking statements also are affected by the risk factors
described in the Company's filings with the U.S. Securities and
Exchange Commission. Except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
Israel Press Contact:
Yaniv Leibovich
Leibovich Media
yanivleib@gmail.com
+972-54-444-0326
U.S. Press Contact:
5W Public Relations
mysizeid@5wpr.com
IR Contact:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: MYSZ@crescendo-ir.com
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SOURCE My Size Inc.