Beamr Imaging Ltd. Announces Closing of Public Offering and Full Exercise of Underwriter’s Option to Purchase Additional Shares

Rhea-AI Summary

Beamr Imaging Ltd. (Nasdaq: BMR) successfully closed a public offering of 1,971,300 ordinary shares, generating approximately $13.8 million in gross proceeds. The underwriter's option to purchase additional shares was fully exercised, and ThinkEquity served as the sole book-running manager. The net proceeds will be allocated towards research and development, sales and marketing, cloud operating costs, and general corporate purposes.

Insights

Financial Analyst

The closing of Beamr Imaging Ltd.'s public offering is a significant event for the company and its investors. With the sale of nearly 2 million shares at $7.00 each, the company has raised gross proceeds of approximately $13.8 million. This capital infusion is crucial for the company's growth trajectory, especially considering the intended use of the funds for research and development, sales and marketing and operational costs.

From a financial perspective, the full exercise of the underwriter's option to purchase additional shares is a positive indicator of investor confidence in Beamr's potential. Moreover, the allocation of funds towards R&D could lead to innovative products that may strengthen Beamr's market positioning. However, investors should monitor the efficiency of capital deployment, as it will impact the company's return on investment and future earnings potential.

Market Research Analyst

Beamr Imaging Ltd. operates in the competitive video optimization technology sector. The successful public offering suggests that there is market appetite for investment in technologies that can enhance video streaming and content delivery. As video consumption continues to grow exponentially, driven by trends such as 4K and 8K video, virtual reality and increased mobile usage, Beamr's investment in R&D could lead to advancements that cater to this demand.

Strategic use of the proceeds in sales and marketing activities is essential to capture market share and establish a stronger brand presence. By analyzing competitive dynamics, Beamr can identify opportunities to leverage its technology in niche markets or expand its customer base. However, the company must balance its growth ambitions with prudent financial management to ensure long-term sustainability.

Legal Expert

The legal framework surrounding public offerings is complex and Beamr's compliance with SEC regulations, as evidenced by the filing of a registration statement on Form F-1, is a critical aspect of this transaction. The effectiveness of this registration statement and the availability of a final prospectus to investors are key to ensuring transparency and adherence to securities laws.

It is important to note that the public offering's legal disclaimers emphasize the limitations and risks inherent in such investments. Potential investors are cautioned that the offering is subject to registration or qualification under the securities laws of various jurisdictions, which serves to protect both the company and the investors by preventing unlawful sales.

Herzliya, Israel, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Beamr Imaging Ltd. (Nasdaq: BMR) (“Beamr” or the “Company”), a leader in video optimization technology, today announced the closing of its previously announced public offering of 1,971,300 ordinary shares, including 257,100 shares sold upon full exercise of the underwriter's option to purchase additional shares, at a public offering price of $7.00 per share. Total gross proceeds from the offering, before deducting underwriting discounts and other offering expenses, were approximately $13.8 million. All of the shares were sold by the Company.

ThinkEquity acted as the sole book-running manager for the offering.

The Company intends to use the net proceeds for research and development efforts, sales and marketing activities, cloud operating costs, as well as general and administrative corporate purposes, including working capital and capital expenditures.

A registration statement on Form F-1 (File No. 333-272257) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on February 12, 2024. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Beamr
Beamr (Nasdaq: BMR) is a world leader in content adaptive video solutions. Backed by 53 granted patents, and winner of the 2021 Technology and Engineering Emmy® award and the 2021 Seagate Lyve Innovator of the Year award, Beamr's perceptual optimization technology enables up to a 50% reduction in bitrate with guaranteed quality. www.beamr.com

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words, and include the use of proceeds from the offering. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on April 24, 2023 and in subsequent filings with the SEC, including in the final prospectus related to the public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof and the Company undertakes no duty to update such information except as required under applicable law.

Contact:
investorrelations@beamr.com

FAQ

How many ordinary shares were included in Beamr Imaging Ltd.'s public offering?

Beamr Imaging Ltd. included 1,971,300 ordinary shares in its public offering.

What was the public offering price per share in Beamr Imaging Ltd.'s offering?

The public offering price per share in Beamr Imaging Ltd.'s offering was $7.00.

Who acted as the sole book-running manager for Beamr Imaging Ltd.'s offering?

ThinkEquity acted as the sole book-running manager for Beamr Imaging Ltd.'s offering.

What will the net proceeds from the offering be used for by Beamr Imaging Ltd.?

The net proceeds from the offering will be used for research and development efforts, sales and marketing activities, cloud operating costs, as well as general and administrative corporate purposes, including working capital and capital expenditures.

Where can a copy of the final prospectus for Beamr Imaging Ltd.'s offering be obtained?

A copy of the final prospectus for Beamr Imaging Ltd.'s offering can be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.