MedAvail Announces Closing of Private Placement
(Nasdaq: MDVL) MedAvail Holdings, Inc. (MedAvail), a technology-enabled retail pharmacy company, today announced the first closing of a private placement for the sale of approximately 37.6 million shares of common stock at an offering price of $1.0625 per share, together with the issuance of warrants to purchase approximately 18.8 million shares of common stock.
- (Nasdaq: MDVL) MedAvail Holdings, Inc. (MedAvail), a technology-enabled retail pharmacy company, today announced the first closing of a private placement for the sale of approximately 37.6 million shares of common stock at an offering price of $1.0625 per share, together with the issuance of warrants to purchase approximately 18.8 million shares of common stock.
- The first closing of the private placement resulted in gross proceeds to MedAvail of $40 million, before deducting placement agent commissions and other offering expenses.
- MedAvail has agreed to file a registration statement with the SEC registering the resale of the shares of common stock to be issued and sold in the private placement, together with the shares of common stock underlying the warrants issued in the private placement, within 60 days of the applicable closing of the private placement in which such securities were purchased.
- Cowen acted as the placement agent for the private placement.