Viewbix to issue 925,923 units at $4.86 in private placement

Viewbix (VBIX) entered into definitive agreements with certain strategic institutional investors for the purchase and sale of approximately $4.5M shares of the Company’s common stock and pre-funded warrants. The entire transaction has been priced at-the-market under Nasdaq rules. Following the transaction, the Company plans to continue its previously announced process to identify and explore potential new business opportunities, investments and activities in a variety of new sectors. In connection with the offering, the Company will issue an aggregate of 925,923 units and pre-funded units. The common units will be sold at a price of $4.86 per unit; the pre-funded units will be sold at the same purchase price as the common units less the pre-funded warrant exercise price of $0.0001. Each unit will consist of one share of common stock and one common warrant exercisable for one share of common stock at an exercise price of $4.74 per share. Each pre-funded unit will consist of one pre-funded warrant and one common warrant exercisable for one share of common stock at an exercise price of $4.74 per share. The common warrants will be exercisable upon issuance and will have a term of 5.5 years from the issuance date. The pre-funded warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each pre-funded unit sold in the offering, the number of common units in the offering will be decreased on a one-for-one basis. The closing of the private placement is expected to occur on or about July 14, subject to the satisfaction of certain customary closing conditions. Aggregate gross proceeds to the Company are expected to be approximately $4.5M, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital is acting as exclusive placement agent for the private placement.