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My Size completes $6 mn public offering of common stock
08
Feb '18
My Size completes $6 mn public offering of common stock
My Size, Inc, developer of proprietary, smartphone measurement applications, has closed its previously announced public offering of its common stock and warrants to purchase shares of its common stock. The investors will receive five-year warrants at an exercise price of $2.65 per share. Roth Capital Partners acted as sole placement agent for the offering.
 
Under the offering, the company sold 3,000,000 shares of common stock together with warrants to purchase up to 1,500,000 shares of common stock at an offering price of $2.00 per share and related warrant. 
 
“Gross proceeds to My Size from this offering are $6,000,000 before deducting placement agent fees and other offering expenses. My Size intends to use the net proceeds from this offering for capital expenditures, repayment of indebtedness, and working capital,” the company said in a statement.
 
Israel based My Size has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications including the apparel, e-commerce DIY, shipping and parcel delivery industries. This proprietary technology is driven by several patent-pending algorithms which are able to calculate and record measurements in a variety of novel ways. (RKS)
 

Fibre2Fashion News Desk – India


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