|LabStyle Innovations Closes $10 Million Financing
LabStyle Innovations Corp. (DRIO), developer of the Dario™ smartphone-based medical device and diabetes management system, announces the final closing of its previously announced common stock and warrant private placement financing. As previously disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), LabStyle conducted an initial closing of this financing on April 5, 2013.
In this financing, LabStyle raised gross proceeds of $10.0 million from a significant number of accredited investors through the sale of an aggregate of 4.0 million shares of LabStyle’s common stock and warrants to purchase an additional 2.0 million shares of LabStyle common stock at a price of $2.50 for one share and one-half of a warrant. The warrants have an exercise price of $5.00 per share and an expiration date of April 4, 2016.