Rail vision ltd. announces closing of $3.0 million private placement

Ra'anana, israel, june 21, 2023 (globe newswire) -- rail vision ltd. (nasdaq: rvsn) (“rail vision” or the “company”), a development stage technology company seeking to revolutionize railway safety and the data-related market, today announced the closing of its previously announced private placement with knorr-bremse rail vehicle systems, part of knorr-bremse ag (kbx.de) and the largest shareholder of rail vision. knorr-bremse is the global market leader for braking systems and a leading supplier of other mission-critical systems for rail and commercial vehicles. in this placement, the company issued an aggregate of 3,947,368 ordinary shares and 3,947,368 five-year warrants exercisable at $0.84 per share. the purchase price of one share and one warrant was $0.76, and the aggregate gross proceeds from this placement were $3.0 million. the placement was subject to the approval by the rail vision shareholders, and the shareholders approved the placement on june 18, 2023.
RVSN Ratings Summary
RVSN Quant Ranking