AIRPORT CITY, Israel,
Oct. 27, 2021 /PRNewswire/ -- My
Size, Inc. ("My Size" or the "Company") (NASDAQ: MYSZ) (TASE:
MYSZ), a leading developer and creator of smartphone measurement
solutions, today announced that it has entered into definitive
purchase agreements with several institutional investors for the
issuance and sale of 2,514,800 shares of its common stock at a
purchase price of $1.352 per share,
in a registered direct offering priced at-the-market under Nasdaq
rules. In a concurrent private placement, My Size has also agreed
to issue and sell to the investors 3,772,208 unregistered shares of
its common stock, at the same purchase price as in the registered
direct offering. In addition, the Company has agreed to issue to
the investors in the offerings unregistered warrants to purchase up
to an aggregate of 4,715,256 shares of common stock. The aggregate
gross proceeds to the Company of both offerings is expected to be
approximately $8.5 million. The
offerings are expected to close on or about October 29, 2021, subject to the satisfaction of
customary closing conditions.
![MySize Logo MySize Logo](https://mma.prnewswire.com/media/689689/MySize_Logo.jpg)
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offerings.
The unregistered warrants will have an exercise price
$1.26 per share, be exercisable
immediately upon issuance and a term of five years.
My Size currently intends to use the net proceeds from the
offerings for general corporate purposes, including working
capital.
The shares of common stock offered in the registered direct
offering (but excluding the shares of common stock offered in the
private placement and the shares of common stock underlying the
warrants) are being offered and sold by My Size pursuant to a
"shelf" registration statement on Form S-3 (Registration No.
333-251679), including a base prospectus, previously filed with the
Securities and Exchange Commission (SEC) on December 23, 2020 and declared effective by the
SEC on December 30, 2020. The
offering of the shares of common stock to be issued in the
registered direct offering are being made only by means of a
prospectus supplement that forms a part of the registration
statement. A final prospectus supplement and an accompanying base
prospectus relating to the registered direct offering will be filed
with the SEC and will be available on the SEC's website located
at http://www.sec.gov. Electronic copies of the prospectus
supplement and accompanying base prospectus may also be obtained
from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor,
New York, NY 10022, by phone at
(212) 856-5711 or e-mail at placements@hcwco.com.
The unregistered shares and unregistered warrants described
above were offered in a private placement under Section 4(a)(2) of
the Securities Act of 1933, as amended (the "Act"), and Regulation
D promulgated thereunder and, along with the shares of common stock
underlying the warrants, have not been registered under the Act, or
applicable state securities laws. Accordingly, the shares, the
warrants and underlying shares of common stock may not be offered
or sold in the United States
except pursuant to an effective registration statement or an
applicable exemption from the registration requirements of the Act
and such applicable state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ, NASDAQ: MYSZ) has developed a unique
measurement technology based on sophisticated algorithms and
cutting-edge technology with broad applications, including the
apparel, e-commerce, DIY, shipping, and parcel delivery industries.
This proprietary measurement technology is driven by several
algorithms that are able to calculate and record measurements in a
variety of novel ways. To learn more about My Size, please visit
our website: www.mysizeid.com. We routinely post information that
may be important to investors in the Investor Relations section of
our website. Follow us on Facebook, LinkedIn, Instagram, and
Twitter.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements are subject to a number of risks and uncertainties,
including, but not limited to market and other conditions, the
completion of the offerings, the satisfaction of customary closing
conditions related to the offerings and the intended use of net
proceeds from the offerings. These statements are identified by the
use of the words "could," "believe," "anticipate," "intend,"
"estimate," "expect," "may," "continue," "predict," "potential,"
"project" and similar expressions that are intended to identify
forward-looking statements. All forward-looking statements speak
only as of the date of this press release. You should not place
undue reliance on these forward-looking statements. Although we
believe that our plans, objectives, expectations and intentions
reflected in or suggested by the forward-looking statements are
reasonable, we can give no assurance that these plans, objectives,
expectations or intentions will be achieved. Forward-looking
statements involve significant risks and uncertainties (some of
which are beyond our control) and assumptions that could cause
actual results to differ materially from historical experience and
present expectations or projections. Actual results to differ
materially from those in the forward-looking statements and the
trading price for our common stock may fluctuate significantly.
Forward-looking statements also are affected by the risk factors
described in the Company's filings with the U.S. Securities and
Exchange Commission. Except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
Logo -
https://mma.prnewswire.com/media/689689/MySize_Logo.jpg
Contacts
Or Kles, CFO
ir@mysizeid.com
Charlotte Kiaie, MKA
ckiaie@mkacomms.com
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SOURCE My Size Inc.