Israeli Dario-Health completed a private placement of more than $ 10 million

Dario-Health announced the completion of a private placement of $ 10.345 million, before issuance expenses and consultants, institutional investors and private investors.

The company issued 4,266,800 shares at a price of $ 0.90 per share and 1,806,923 preferred shares convertible into Series D at a price of $ 3.60 per share, as well as options to purchase up to 9,195,604 shares at an exercise price of $ 1.25 per share. The options will be exercisable commencing March 14, 2019 and will expire on September 13, 2021.
"With 14 consecutive quarters of revenue growth, an annual growth of 84% between 2016 and 2017 and an expected improvement in gross profitability from service delivery and B2B sales, DarioHealth is in the midst of an accelerated growth process towards profitability. "We are proud that a large part of the money raised in the private placement came from new institutional investors, private equity funds and private investors specializing in medical investments, and recognize the opportunity in the business plan that Dario implements," Erez said. Rafael, CEO of Dario.
The company Is a global market leader in digital health care, providing users with dynamic mobile medical solutions. Today, information about health and treatment is being democratized and we believe that people are entitled to know everything about their health and have the best tools to manage their condition.