Odysight.ai Secures More Than $10 Million Private Placement to Accelerate its Growth
OMER, Israel, July 15, 2024 (GLOBE NEWSWIRE) — Odysight.ai (OTCQB:ODYS), a leading provider of Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) solutions, today announced that it has secured a private placement of 2,144,583 shares of the Company’s common stock, at a purchase price of $4.80 per share. Gross proceeds from the private placement of more than $10 million are expected to be used for working capital and general corporate purposes, including to further advance purchase orders for the Company’s innovative products and technology in the fields of Predictive Maintenance and Condition Based Monitoring, critical pillars of Industry 4.0. The private placement, which is now concluded, includes new and existing investors, including Mori Arkin who is also a member of the Company’s board of directors.
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