Odysight.ai Announces the Pricing of $21.5 Million Public Offering and Uplisting to the Nasdaq Capital Market
Odysight.ai, an AI systems developer for Predictive Maintenance and Condition-Based Monitoring, has announced the pricing of its public offering and uplisting to the Nasdaq Capital Market. The company is offering 3,307,692 shares at $6.50 per share, with expected gross proceeds of approximately $21.5 million.
Trading will commence on the Nasdaq Capital Market under the symbol 'ODYS' on February 11, 2025. The offering is expected to close on February 12, 2025. The Benchmark Company is serving as the sole book-running manager and has a 30-day option to purchase up to an additional 496,153 shares.
The company plans to use the proceeds for expanded research and development, increased sales and marketing, working capital, and other general corporate purposes.
Odysight.ai, un sviluppatore di sistemi AI per la Manutenzione Predittiva e il Monitoraggio Basato sulle Condizioni, ha annunciato il prezzo della sua offerta pubblica e il passaggio al Nasdaq Capital Market. L'azienda offre 3.307.692 azioni a 6,50 $ per azione, con proventi lordi attesi di circa 21,5 milioni di dollari.
Le negoziazioni avranno inizio sul Nasdaq Capital Market sotto il simbolo 'ODYS' il 11 febbraio 2025. Si prevede che l'offerta si concluda il 12 febbraio 2025. La Benchmark Company funge da unico gestore del libro e ha un'opzione di 30 giorni per acquistare fino a ulteriori 496.153 azioni.
L'azienda prevede di utilizzare i proventi per ampliare la ricerca e sviluppo, aumentare le vendite e il marketing, il capitale circolante e altri scopi corporativi generali.
Odysight.ai, un desarrollador de sistemas de IA para Mantenimiento Predictivo y Monitoreo Basado en Condiciones, ha anunciado el precio de su oferta pública y su inclusión en el Nasdaq Capital Market. La empresa está ofreciendo 3,307,692 acciones a 6.50 $ por acción, con ingresos brutos esperados de aproximadamente 21.5 millones de dólares.
Las operaciones comenzarán en el Nasdaq Capital Market bajo el símbolo 'ODYS' el 11 de febrero de 2025. Se espera que la oferta cierre el 12 de febrero de 2025. La Benchmark Company actúa como único administrador del libro y tiene una opción de 30 días para adquirir hasta 496,153 acciones adicionales.
La empresa planea utilizar los ingresos para ampliar la investigación y el desarrollo, aumentar las ventas y el marketing, el capital de trabajo y otros fines corporativos generales.
Odysight.ai, 예측 유지보수 및 조건 기반 모니터링을 위한 AI 시스템 개발업체,가 자사의 공모 가격과 Nasdaq 자본 시장 상장 소식을 발표했습니다. 이 회사는 3,307,692주를 주당 6.50달러에 제공하며, 예상 총 수익은 약 2,150만 달러입니다.
거래는 2025년 2월 11일에 'ODYS'라는 심볼로 Nasdaq 자본 시장에서 시작됩니다. 이 공모는 2025년 2월 12일에 완료될 것으로 예상됩니다. Benchmark Company는 단독 주관사를 맡고 있으며, 추가로 496,153주를 구매할 수 있는 30일 옵션을 보유하고 있습니다.
이 회사는 수익금을 연구개발 확대, 판매 및 마케팅 증가, 운영 자본 및 기타 일반 기업 목적에 사용할 계획입니다.
Odysight.ai, un développeur de systèmes d'IA pour la maintenance prédictive et la surveillance basée sur les conditions, a annoncé le prix de son offre publique et son passage au Nasdaq Capital Market. La société propose 3 307 692 actions à 6,50 $ par action, avec des produits bruts attendus d'environ 21,5 millions de dollars.
Les négociations commenceront sur le Nasdaq Capital Market sous le symbole 'ODYS' le 11 février 2025. La clôture de l'offre est prévue pour le 12 février 2025. La Benchmark Company agit en tant que gestionnaire exclusif et dispose d'une option de 30 jours pour acheter jusqu'à 496 153 actions supplémentaires.
La société prévoit d'utiliser les revenus pour élargir la recherche et le développement, augmenter les ventes et le marketing, le fonds de roulement et d'autres usages corporatifs généraux.
Odysight.ai, ein Entwickler von KI-Systemen für prädiktive Instandhaltung und zustandsbasiertes Monitoring, hat die Preise seiner börslichen Angebot und den Wechsel zum Nasdaq Capital Market angekündigt. Das Unternehmen bietet 3.307.692 Aktien zu einem Preis von 6,50 $ pro Aktie an, mit einer erwarteten Bruttoeinnahme von etwa 21,5 Millionen Dollar.
Der Handel wird am 11. Februar 2025 unter dem Symbol 'ODYS' am Nasdaq Capital Market beginnen. Es wird erwartet, dass das Angebot am 12. Februar 2025 abgeschlossen wird. Die Benchmark Company fungiert als alleiniger Buchführer und hat die Option, innerhalb von 30 Tagen bis zu 496.153 weitere Aktien zu kaufen.
Das Unternehmen plant, die Einnahmen für die Erweiterung von Forschung und Entwicklung, erhöhte Verkaufs- und Marketingaktivitäten, Betriebskapital und andere allgemeine Unternehmenszwecke zu verwenden.
- Successful uplisting to Nasdaq Capital Market, potentially increasing visibility and liquidity
- Raised $21.5 million in gross proceeds through public offering
- Clear allocation of funds for R&D expansion and sales growth
- Potential dilution for existing shareholders due to new share issuance
Insights
The dual announcement of Odysight.ai's
The planned allocation of proceeds reveals a comprehensive growth strategy:
- Expanded R&D investment signals commitment to technological advancement in the competitive AI maintenance sector
- Increased sales and marketing efforts suggest an aggressive market penetration strategy
- Working capital enhancement improves operational flexibility
The offering's structure, including the 30-day option for an additional 496,153 shares, provides flexibility to capture additional capital if market conditions prove favorable. The selection of The Benchmark Company as the sole book-runner suggests a targeted approach to institutional distribution.
However, investors should note the dilutive effect of this offering, which increases the outstanding share count by approximately 3.3 million shares. This dilution is balanced against the strategic benefits of improved trading liquidity, enhanced market visibility and strengthened capital position. The Nasdaq listing requirements and associated governance standards also add a layer of credibility and transparency that could attract a broader investor base.
Odysight.ai common stock to begin trading on Nasdaq Tuesday, February 11, 2025, under the symbol “ODYS”
OMER, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Odysight.ai Inc. (Nasdaq: ODYS) (“Odysight.ai” or the “Company”), a pioneering developer of AI systems for Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM), today announced the pricing of a public offering of 3,307,692 shares of its common stock at a price to the public of
Odysight.ai’s common stock has been approved for listing and is expected to begin trading on the Nasdaq Capital Market under the symbol “ODYS” on Tuesday, February 11, 2025.
The offering is expected to close on February 12, 2025, subject to customary closing conditions.
The gross proceeds to Odysight.ai from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately
The Benchmark Company, LLC is acting as sole book-running manager for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, and became effective on February 10, 2025. The proposed offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email at prospectus@benchmarkcompany.com.
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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Odysight.ai
Odysight.ai is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, Odysight.ai leverages proven visual technologies and products from the medical industry. Odysight.ai’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. Odysight.ai’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.
We routinely post information that may be important to investors in the Investors section of our website. For more information, please visit: https://www.odysight.ai or follow us on Twitter, LinkedIn and YouTube.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the offering. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward- looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro Odysight.ai technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of Odysight.ai’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts to obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on a single customer that accounts for a substantial portion of our revenues, (xi) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the impact of computer system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction and (xv) political, economic and military instability in Israel, including the impact of Israel’s war against Hamas and Hezbollah. These and other important factors discussed in Odysight.ai’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 26, 2024 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, Odysight.ai undertakes no obligation to publicly update or revise forward-looking information.
Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com
Company Contact:
Einav Brenner, CFO
info@odysight.ai
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