DarioHealth (DRIO) announced the successful closing of a $25.6M private placement of convertible preferred stock, priced in accordance with Nasdaq market rules. The majority of the funds were secured from existing shareholders, with the remainder contributed by a network of leading accredited healthcare investors and executives from the healthcare sector. The result of this offering is expected to extend Dario’s cash runway and bolster its financial position enabling the company to continue executing its current strategic plan which includes achieving an operational cash flow positive run rate by the end of 2025 while continuing to build high-margin, scalable recurring revenues across B2B and pharma channels. As a result, the company’s proforma cash balance, inclusive of the proceeds from the private placement, is $40.6M as of the end of the third quarter of 2024. The private placement closed on December 18, 2024, and January 14, 2025.
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