Beamr Imaging Ltd. Announces Pricing of $12 Million Public Offering

Rhea-AI Summary

Beamr Imaging Ltd. (Nasdaq: BMR) announces a public offering of 1,714,200 ordinary shares at $7.00 per share, aiming to raise approximately $12 million for research, development, and operational expenses. The offering is expected to close on February 15, 2024, with ThinkEquity as the book-running manager.

Insights

Financial Analyst

The public offering of Beamr Imaging Ltd.'s ordinary shares at $7.00 each, aiming to raise approximately $12 million, is a strategic move to bolster the company's financial position. The allocation of net proceeds to research and development, sales and marketing, as well as general corporate purposes, indicates a balanced approach towards growth and operational sustainability. The decision to grant underwriters an option to purchase additional shares to cover over-allotments reflects standard practice to mitigate the risk of share price volatility post-offering.

From a financial perspective, the offering's success hinges on investor confidence in Beamr's future prospects, particularly its video optimization technology's market potential. The capital infusion should ideally lead to product enhancements and expanded market reach, ultimately translating into revenue growth. However, investors should monitor the company's subsequent R&D efficiency and the ROI on sales and marketing expenditures.

Moreover, the timing of the offering and the effectiveness of the registration statement on the same day suggest a well-coordinated effort between Beamr and regulatory authorities, potentially signaling management's adeptness in navigating compliance requirements.

Market Research Analyst

Beamr Imaging Ltd.'s positioning in the video optimization technology market is crucial to understanding the potential impact of their recent capital raise. The industry is characterized by rapid innovation and increasing demand for high-quality video content, which necessitates continuous investment in technology to stay competitive. Beamr's commitment to funding its research and development efforts could enhance its product offerings and maintain or improve its market position.

Investors should consider the competitive landscape and the adoption rate of Beamr's technologies among content creators and distributors. The effectiveness of the company's sales and marketing strategies in converting technological advancements into marketable solutions will be essential to capitalize on the growth opportunities within the industry.

Analyzing the company's past financial performance and comparing it with industry benchmarks will provide insights into how efficiently Beamr converts R&D spending into revenue-generating products. This is a key factor that could influence the company's stock performance in the aftermath of the offering.

Legal Expert

The legal implications of Beamr Imaging Ltd.'s offering are underscored by the registration statement's effectiveness and the adherence to SEC regulations. The company's compliance with securities law, as evidenced by the filing of Form F-1 and the availability of the final prospectus, is indicative of transparent corporate governance practices. Potential investors are assured of the legal legitimacy of the offering, which could influence their decision-making process.

It is also important to recognize the legal boundaries within which the offering is conducted, as the press release explicitly states the limitations regarding the solicitation and sale of securities. Such disclosures are not only mandatory but also serve to protect the company and the underwriters from legal disputes related to the offering.

Investors should be aware that the company's future use of the raised capital will be scrutinized under the same regulatory framework, ensuring that the funds are utilized for stated purposes, which could include scrutiny of subsequent working capital and capital expenditures.

Herzliya, Israel, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Beamr Imaging Ltd. (Nasdaq: BMR) (“Beamr” or the “Company”), a leader in video optimization technology, today announced the pricing of an underwritten public offering of 1,714,200 ordinary shares. Each ordinary share is being sold at a public offering price of $7.00 per share for gross proceeds of approximately $12 million, before deducting underwriting discounts and offering expenses. All of the ordinary shares are being offered by the Company. In addition, Beamr has granted the underwriters a 45-day option to purchase up to an additional 257,100 ordinary shares to cover over-allotments at the public offering price, less the underwriting discount.

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.

The offering is expected to close on February 15, 2024, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

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. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.  The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

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 expected gross proceeds from the public offering, the use of proceeds from the offering and the expected closing date of 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 Securities and Exchange Commission (“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.

Investor Relations Contact

investorrelations@beamr.com

FAQ

How many ordinary shares are being offered in the public offering by Beamr Imaging Ltd. (Nasdaq: BMR)?

Beamr Imaging Ltd. is offering 1,714,200 ordinary shares in the public offering.

At what price are the ordinary shares being sold in the public offering by Beamr Imaging Ltd. (Nasdaq: BMR)?

The ordinary shares are being sold at a price of $7.00 per share in the public offering.

What is the expected gross proceeds from the public offering by Beamr Imaging Ltd. (Nasdaq: BMR)?

Beamr Imaging Ltd. expects to raise approximately $12 million in gross proceeds from the public offering.

Who is acting as the sole book-running manager for the public offering by Beamr Imaging Ltd. (Nasdaq: BMR)?

ThinkEquity is acting as the sole book-running manager for the public offering by Beamr Imaging Ltd.

What will Beamr Imaging Ltd. utilize the net proceeds from the public offering for?

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

When is the expected closing date of the public offering by Beamr Imaging Ltd. (Nasdaq: BMR)?

The public offering is expected to close on February 15, 2024, subject to customary closing conditions.