Odysight.ai frequent inventory to start buying and selling on Nasdaq Tuesday, February 11, 2025, below the image “ODYS”
OMER, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Odysight.ai Inc. (Nasdaq: ODYS) (“Odysight.ai” or the “Firm”), a pioneering developer of AI techniques for Predictive Upkeep (PdM) and Situation-Primarily based Monitoring (CBM), at the moment introduced the pricing of a public providing of 3,307,692 shares of its frequent inventory at a value to the public of $6.50 per share. The only book-running supervisor of the providing can have a 30-day choice to buy up to an extra 496,153 shares of frequent inventory from Odysight.ai at the public providing value, much less underwriting reductions and commissions.
Odysight.ai’s frequent inventory has been authorised for itemizing and is anticipated to start buying and selling on the Nasdaq Capital Market below the image “ODYS” on Tuesday, February 11, 2025.
The providing is anticipated to shut on February 12, 2025, topic to customary closing situations.
The gross proceeds to Odysight.ai from the providing, earlier than deducting underwriting reductions and commissions and estimated providing bills, are anticipated to be roughly $21.5 million. Odysight.ai intends to use the web proceeds from this providing for expanded analysis and growth, elevated gross sales and advertising and marketing, working capital and different normal company functions.
The Benchmark Firm, LLC is appearing as sole book-running supervisor for the providing.
A registration assertion relating to these securities has been filed with the U.S. Securities and Change Fee, and turned efficient on February 10, 2025. The proposed providing will likely be made solely by means of a prospectus. Copies of the last prospectus, when out there, could also be obtained from The Benchmark Firm, LLC, 150 East 58th St., seventeenth Flooring, New York, NY 10155, by phone: (212) 312-6700, or by electronic mail at prospectus@benchmarkcompany.com.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of these securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal prior to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Odysight.ai
Odysight.ai is pioneering the Predictive Upkeep (PdM) and Situation Primarily based Monitoring (CBM) markets with its visualization and AI platform. Offering video sensor-based options for vital techniques in the aviation, transportation, and vitality industries, Odysight.ai leverages confirmed visible applied sciences and merchandise from the medical business. Odysight.ai’s distinctive video-based sensors, embedded software program, and AI algorithms are being deployed in hard-to-reach places and harsh environments throughout a range of PdM and CBM use instances. Odysight.ai’s platform permits upkeep and operations groups visibility into areas that are inaccessible below regular operation, or the place the working atmosphere will not be appropriate for steady real-time monitoring.
We routinely put up data that could be vital to buyers in the Buyers part of our web site. For extra data, please go to: https://www.odysight.ai or comply with us on Twitter, LinkedIn and YouTube.
Ahead-Trying Statements
Info set forth on this information launch incorporates forward-looking statements inside the that means of secure harbor provisions of the Personal Securities Litigation Reform Act of 1995 relating to future occasions or our future efficiency. All statements contained on this press launch that don’t relate to issues of historic reality needs to be thought-about forward-looking statements, together with, however not restricted to, statements relating to the completion of the providing, the satisfaction of customary closing situations associated to the providing and the supposed use of web proceeds from the providing. In some instances, you may establish forward-looking statements by terminology reminiscent of “could,” “ought to,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “proceed” or the adverse of these phrases or different comparable terminology. These statements are based mostly on data we now have when these statements are made or our administration’s present expectation and are topic to dangers and uncertainties that would trigger precise efficiency or outcomes to differ materially from these expressed in or recommended by the forward- wanting statements. Elements which will have an effect on our outcomes, efficiency, circumstances or achievements embrace, however are usually not restricted to the following: (i) market acceptance of our current and new merchandise, together with people who make the most of our micro Odysight.ai know-how or supply Predictive Upkeep and Situation Primarily based Monitoring functions, (ii) prolonged product delays in key markets, (iii) an incapability to safe regulatory approvals for the sale of our merchandise, (iv) intense competitors in the medical system and associated industries from a lot bigger, multinational corporations, (v) product legal responsibility claims, product malfunctions and the performance of Odysight.ai’s options below all environmental situations, (vi) our restricted manufacturing capabilities and reliance on third-parties for help, (vii) an incapability to set up gross sales, advertising and marketing and distribution capabilities to commercialize our merchandise, (viii) an incapability to appeal to and retain certified personnel, (ix) our efforts to get hold of and keep mental property safety masking our merchandise, which might not be profitable, (x) our reliance on a single buyer that accounts for a considerable portion of our revenues, (xi) our reliance on single suppliers for sure product elements, together with for miniature video sensors that are appropriate for our Complementary Metallic Oxide Semiconductor know-how merchandise, (xii) the reality that we’ll want to elevate further capital to meet our enterprise necessities in the future and that such capital elevating could also be pricey, dilutive or tough to get hold of, (xiii) the affect of laptop system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the undeniable fact that we conduct enterprise in a number of international jurisdictions, exposing us to international foreign money alternate price fluctuations, logistical, world provide chain and communications challenges, burdens and prices of compliance with international legal guidelines and political and financial instability in every jurisdiction and (xv) political, financial and navy instability in Israel, together with the affect of Israel’s conflict in opposition to Hamas and Hezbollah. These and different vital elements mentioned in Odysight.ai’s Annual Report on Kind 10-Okay filed with the Securities and Change Fee (“SEC”) on March 26, 2024 and our different experiences filed with the SEC may trigger precise outcomes to differ materially from these indicated by the forward-looking statements made on this press launch. Besides as required below relevant securities laws, Odysight.ai undertakes no obligation to publicly replace or revise forward-looking data.
Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com
Firm Contact:
Einav Brenner, CFO
information@odysight.ai
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