Wearable Devices Ltd. completed a registered direct offering and private placement of 1,230,000 ordinary shares at $2.67 per share, raising approximately $3.3 million in gross proceeds.
The company also issued unregistered warrants to purchase up to 1,230,000 ordinary shares at the same exercise price. These warrants are exercisable immediately upon shareholder approval and expire five years from approval. Existing warrants issued in September 2025 were amended to reduce the exercise price to $2.67 and extend expiration to five years, covering up to 1,670,000 shares.
The closing of the transaction is expected on or about October 31 2025, subject to customary closing conditions.
Net proceeds will be used for working capital and general corporate purposes, supporting ongoing product development of the Mudra Band and Mudra Link and expanding market reach in both B2C and B2B segments.
Wearable Devices reported revenue of $522,000 for 2024, up from $82,000 in 2023, but recorded a net loss of $7.9 million for the year. For the first half of 2025, revenue was $294,000 with a net loss of $3.7 million. The company continues to invest heavily in research and development and strategic partnerships, including an exclusive distribution agreement in South Korea with Sky Commerce Co. and collaborations with Qualcomm.
The financing follows a prior $4 million registered direct offering in September 2025 and is part of the company’s strategy to strengthen its balance sheet and accelerate commercialization of its AI‑powered touchless sensing technology.
Management emphasized that the capital infusion will support scaling production, expanding distribution channels, and advancing the company’s roadmap for next‑generation gesture‑controlled devices.
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