Wearable Devices prices 1.23M shares at $2.67 in registered direct offering

Wearable Devices (WLDS) entered into a securities purchase agreement with an existing single institutional investor for the purchase and sale of 1,230,000 ordinary shares at a purchase price of $2.67 per share in a registered direct offering priced at-the-market under Nasdaq rules. The gross proceeds from the offering are expected to be approximately $3.3M, before deducting financial advisor fees and other offering expenses. In addition, in a concurrent private placement, Wearable Devices will issue and sell unregistered warrants to purchase up to 1,230,000 ordinary shares. The warrants will have an exercise price of $2.67 per share, will be exercisable immediately upon shareholder approval of the issuance of the warrants is obtained and will expire five years from the date shareholder approval is obtained. The closing of the offering is expected to occur on or about October 31, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.