DarioHealth (NSDQ:DRIO), a developer of digital therapeutics for chronic conditions, filed an SEC Form D to confirm the sale of more than $28 million.
The Israel-based company made its first sale in the new notice offering of equity and options, warrants and other rights to purchase securities on July 31. The offering is not being made in connection with a merger, acquisition or exchange offer, or anything of the like.
DarioHealth is offering $30 million in total, having already raised nearly $28.6 million with participation from 27 investors so far, according to the filing. There remains just $1.4 million left to be sold in the offering, which DarioHealth does not intend to last longer than one year.
Additionally, DarioHealth owes $910,224 in sales compensation, including $617,721 for Aegis Capital, along with warrants to purchase 10% of the aggregate number of securities sold.
The company did not list an intended use of proceeds in the filing dated Aug. 4, 2020.