G Medical Innovations Holdings Ltd. Announces Closing of Public Offering

Rehovot, Israel, April 04, 2023 (GLOBE NEWSWIRE) — G Medical Innovations Holdings Ltd. (Nasdaq:GMVD) (the “Company”), a global leader in next-generation mobile health (mHealth) and digital health, today announced the closing of its public offering of 12,000,000 ordinary shares (or pre-funded warrants (“Pre-Funded Warrants”) in lieu thereof), each sold to the public at a price of $0.80 (inclusive of the exercise price of the Pre-Funded Warrant) for gross proceeds of approximately $9.6 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,800,000 ordinary shares and/or Pre-Funded Warrants to cover over-allotments at the public offering price, less the underwriting discount.

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