My Size, Inc. Announces $5.0 Million Public Offering
May 06 2020 - 9:42AM
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 priced a public offering of
an aggregate of 4,545,454 shares of common stock (or common stock
equivalents) of the Company, together with an accompanying common
warrant, at a public offering price of $1.10 per share and
associated warrant. Each share of common stock (or common
stock equivalent) was sold in the offering collectively with a
common warrant to purchase one share of common stock expiring five
years from the date of issuance. Each common warrant has an
exercise price of $1.10.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to My Size from this offering
are expected to be approximately $5.0 million, before deducting the
placement agent’s fees and other estimated offering expenses
payable by My Size, assuming none of the warrants issued in this
offering are exercised for cash. The offering is expected to close
on or about May 8, 2020, subject to the satisfaction of customary
closing conditions.
My Size anticipates using the net proceeds from
the offering for the establishment of a joint venture, working
capital, and general corporate purposes.
The securities described above are being offered
by the Company pursuant to a registration statement (File No.
333-237858) previously filed with and declared effective by the
Securities and Exchange Commission (the “SEC”) on May 6,
2020. The offering is being made only by means of the
prospectus forming a part of the effective registration statement.
A preliminary prospectus relating to the securities being offered
was filed with the SEC on May 5, 2020 and is available on the SEC’s
website at http://www.sec.gov. Electronic copies of the final
prospectus relating to the offering may be obtained, when
available, from H.C. Wainwright & Co., LLC, 430 Park Avenue,
3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by
emailing placements@hcwco.com or at the SEC’s website at
http://www.sec.gov.
This press release is neither an offer to sell,
nor a solicitation of an offer to buy, any of these securities and
shall not constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale is
unlawful.
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.
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 with respect the public 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 and other 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.
U.S. Press Contact:5W Public Relationsmysizeid@5wpr.com
IR Contact:Crescendo Communications, LLC Tel: +1
212-671-1020Email: MYSZ@crescendo-ir.com
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