Odysight.ai Inc. - SCTC STOCK NEWS

ScoutCam (OTCQB: SCTC) announced a successful private placement of 3,294,117 units at $4.25 per unit, generating $14 million in gross proceeds. Each unit includes one share of common stock and a three-year warrant with an exercise price of $5.50. The funds will support working capital and advance the company’s Predictive Maintenance and Condition Based Monitoring technologies, critical for Industry 4.0. The placement was led by prominent investors, including Mori Arkin and Phoenix Insurance. However, the securities have not been registered under the Securities Act, limiting their resale. ScoutCam aims to leverage this investment to enhance its position in the video analytics AI predictive maintenance market.

ScoutCam (OTCQB: SCTC) has achieved AS9100D certification, demonstrating its commitment to quality management in the aerospace and defense sectors. This certification is an internationally recognized standard, based on ISO 9001:2015, and is endorsed by the International Aerospace Quality Group. CEO Yehu Ofer highlighted this as a strategic milestone, positioning the company to meet the high-quality expectations of customers. ScoutCam specializes in predictive maintenance and condition-based monitoring solutions, utilizing advanced visual technologies.

ScoutCam Inc. (OTCQB: SCTC) announced the successful completion of a major development stage for its real-time video monitoring (RTVM) system, in collaboration with Elbit Systems Ltd. This system replaces manual inspections for unmanned aerial systems (UAS), offering improved visibility in hard-to-reach areas. ScoutCam's technology features a modular design, enabling integration with advanced UAS, enhancing flight safety through real-time monitoring and predictive maintenance capabilities. The CEO emphasized the system's potential across various sectors, demonstrating its value in reducing maintenance costs and improving safety.

ScoutCam (OTCQB: SCTC) has appointed Kfir Granit as senior general counsel, overseeing legal and contractual functions. Granit, previously at Plarium Global Ltd. and Elbit Systems Ltd., will facilitate partnerships and support sales and marketing efforts. His expertise includes mitigating risks in business opportunities and negotiating significant contracts. CEO Yehu Ofer expressed excitement over Granit's extensive experience, which is expected to guide ScoutCam towards becoming a leader in Predictive Maintenance and Condition Based Monitoring technology. ScoutCam's products leverage advanced video sensor technology for critical systems across various industries.

ScoutCam (SCTC) announced a $2.5 million order from a top US-based orthopedic healthcare corporation for its advanced video technologies, to be integrated into a minimally invasive surgical device. This FDA-cleared device aims to enhance surgical performance and safety by offering superior visibility and reducing the need for traditional microscopes. The partnership is expected to result in significant future revenue growth, with additional multiples of the initial order anticipated in subsequent years. CEO Yehu Ofer highlighted the collaboration's potential to transform orthopedic surgeries.

ScoutCam (OTCQB: SCTC) has appointed Jacob Avinu as Senior Vice President of Product Portfolio, focusing on the development of its visualization and AI platform for the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) sectors. Avinu brings over 15 years of experience, previously leading R&D at Elbit Systems. His expertise in advanced engineering is expected to enhance ScoutCam's offerings, catering to critical industries such as aviation, transportation, and energy. This leadership change reflects the company's commitment to innovation and market growth.

ScoutCam (OTCQB: SCTC) has appointed Yehu Ofer as its new CEO, effective immediately. Ofer, a former Israeli Air Force colonel with extensive experience in the aviation and aerospace industries, aims to leverage his expertise to drive ScoutCam's growth. The company specializes in predictive maintenance and condition-based monitoring solutions, focusing on critical systems in various sectors, including aviation and energy. Chairman Benad Goldwasser expressed confidence in Ofer’s leadership, which is expected to enhance ScoutCam's innovative capabilities and market position.

ScoutCam (OTCQB: SCTC) announced a Joint Development Agreement (JDA) with a leading global defense and aviation company. This multi-year partnership will utilize ScoutCam's visualization technology for in-flight monitoring of aerial vehicle components, replacing manual inspections. CEO Yovav Sameah emphasized the JDA as pivotal for growth in the Condition Based Monitoring and Predictive Maintenance markets. The collaboration aims for future expansions into various military and civilian aviation sectors, enhancing contribution to these industries while providing significant growth potential for ScoutCam.