DarioHealth priced a $14.3 million private placement of convertible preferred stock, priced at the market under Nasdaq rules, with significant participation by select members of leadership, the board and existing investors.
The company also re-financed its credit facility. As a result, proforma cash balance as of the end of first quarter of 2023 inclusive of the private placement funds and refinanced loan is $60 million. Together, these actions are expected to extend the company’s cash runway through late 2025, based on its current operating plan. The private placement is expected to close today.
DarioHealth is a digital health company that offers a platform and suite of solutions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health. Read more.
