Beamr Imaging Ltd. Announces Closing of Public Offering and Full Exercise of Underwriter’s Option to Purchase Additional Shares
February 15 2024 - 4:15PM
Beamr Imaging Ltd. (Nasdaq: BMR) (“Beamr” or the “Company”), a
leader in video optimization technology, today announced the
closing of its previously announced public offering of 1,971,300
ordinary shares, including 257,100 shares sold upon full exercise
of the underwriter's option to purchase additional shares, at a
public offering price of $7.00 per share. Total gross proceeds from
the offering, before deducting underwriting discounts and other
offering expenses, were approximately $13.8 million. All of the
shares were sold by the Company.
ThinkEquity acted as the sole book-running
manager for the offering.
The Company intends to use the net proceeds for
research and development efforts, sales and marketing activities,
cloud operating costs, as well as general and administrative
corporate purposes, including working capital and capital
expenditures.
A registration statement on Form F-1 (File No.
333-272257) relating to the shares was filed with the Securities
and Exchange Commission (“SEC”) and became effective on February
12, 2024. A prospectus relating to and describing the terms of the
offering has been filed with the SEC and is available on the SEC’s
website at www.sec.gov. The offering was made only by means of a
prospectus. Copies of the final prospectus may be obtained from
ThinkEquity, 17 State Street, 41st Floor, New York, New York
10004.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, 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 BeamrBeamr (Nasdaq: BMR)
is a world leader in content adaptive video solutions. Backed by 53
granted patents, and winner of the 2021 Technology and Engineering
Emmy® award and the 2021 Seagate Lyve Innovator of the Year award,
Beamr's perceptual optimization technology enables up to a 50%
reduction in bitrate with guaranteed quality. www.beamr.com
Forward-Looking Statements
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. Forward-looking statements in this communication may
include, among other things, statements about Beamr’s strategic and
business plans, technology, relationships, objectives and
expectations for its business, the impact of trends on and interest
in its business, intellectual property or product and its future
results, operations and financial performance and condition. All
statements, other than statements of historical fact, contained in
this press release are forward-looking statements. Forward-looking
statements contained in this press release may be identified by the
use of words such as “anticipate,” “believe,” “contemplate,”
“could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,”
“plan,” “potential,” “predict,” “project,” “target,” “aim,”
“should,” “will” “would,” or the negative of these words or other
similar expressions, although not all forward-looking statements
contain these words, and include the use of proceeds from the
offering. Forward-looking statements are based on the Company’s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. For a more
detailed description of the risks and uncertainties affecting the
Company, reference is made to the Company’s reports filed from time
to time with the SEC, including, but not limited to, the risks
detailed in the Company’s annual report filed with the SEC on April
24, 2023 and in subsequent filings with the SEC, including in the
final prospectus related to the public offering filed with the SEC.
Forward-looking statements contained in this announcement are made
as of the date hereof and the Company undertakes no duty to update
such information except as required under applicable law.
Contact:investorrelations@beamr.com
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