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Odysight.ai Inc., an optical instruments and lenses company, has successfully closed the exercise of the over-allotment option related to its recent public offering, the company reported on Monday. This move allowed the company to sell an additional 345,432 shares of common stock at a price of $6.50 per share, notably above the current trading price of $5.72.
The exercise of the over-allotment option, which was part of the company’s public offering that concluded on February 12, 2025, brings the total number of shares sold to 3,653,124.
As a result, Odysight.ai has secured approximately $23.7 million in gross proceeds before accounting for underwriting discounts, commissions, and other estimated offering expenses. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with the company maintaining a healthy current ratio of 7.9x.
The additional funds raised from the over-allotment are expected to contribute to the company’s capital, aiding in its continued development and potential expansion.
This capital injection comes as the company demonstrates remarkable revenue growth of 270% over the last twelve months, though InvestingPro data indicates the company is not yet profitable. The completion of this financial maneuver demonstrates investor confidence in Odysight.ai’s market position and future prospects.
Odysight.ai, formerly known as ScoutCam Inc. and Intellisense Solutions Inc., is headquartered in Omer, Israel, with a business presence in Scottsdale, Arizona. The company is listed on the Nasdaq Capital Market under the trading symbol ODYS.
This financial event is detailed in a Form 8-K filing with the Securities and Exchange Commission (SEC) as of February 18, 2025, indicating the official close of the over-allotment option on February 14, 2025. The information reported is based on the company’s press release statement and the SEC filing, providing investors and the public with the latest financial developments of Odysight.ai Inc.
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