In addition, underwriters were given by the company and the fund an option (Green Shoe) for 30 days for the additional purchase of certificates amounting to 15% of the issue volume.
In total, the Company offered 3,049,130 U.S. certificates of deposit (ADS) at a price of $ 22.75 per certificate, reflecting a 4.4% discount on the closing price of the certificate on NASDAQ on Thursday, February 4, 2021, compared to an issue price of $ 13.75 per certificate in the first issue of the Company. About a year ago on the NASDAQ.
As part of the offering, Itamar Medical sold 1,968,466 certificates, and the Viola Fund sold 1,080,664 additional certificates. Also, underwriters were given by the company and the fund an option for 30 days to purchase an additional 457,369 certificates.
The company updates that the proceeds will be used primarily to implement a acquisition plan to accelerate growth, which is expected to reach a range of 43% to 46% (excluding one-time Kaiser sales) in the fourth quarter of 2020, compared to the same quarter in 2019. The acquisition plan follows the company’s first acquisition. SPRY Health earlier this year.
Another important goal of the company is to expand the base of its high-quality American institutional investors and significantly increase the number of ADSs available for trading in the US. The company updates that the above two goals have been achieved.
The fundraiser was led by a syndicate of three American banks: Piper Sendler – Cowen – SVB Leerink and the IPO to Israeli institutions was led by Sable Investments.
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