G medical innovations holdings ltd. announces closing of public offering

Rehovot, israel, april 04, 2023 (globe newswire) -- g medical innovations holdings ltd. (nasdaq: gmvd) (the “company”), a global leader in next-generation mobile health (mhealth) and digital health, today announced the closing of its public offering of 12,000,000 ordinary shares (or pre-funded warrants (“pre-funded warrants”) in lieu thereof), each sold to the public at a price of $0.80 (inclusive of the exercise price of the pre-funded warrant) for gross proceeds of approximately $9.6 million, before deducting underwriting discounts and offering expenses. in addition, the company has granted the underwriters a 45-day option to purchase up to an additional 1,800,000 ordinary shares and/or pre-funded warrants to cover over-allotments at the public offering price, less the underwriting discount.
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