DarioHealth Announced Pricing of its Registered Direct Offering for Aggregate Proceeds of $40 Million Priced At-The-Market Under Nasdaq Rules

NEW YORK, March 1, 2022 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market, announced today that on February 28, 2022 it entered into definitive agreements with institutional investors, including insurance companies located in Israel and primarily consisting of existing shareholders, in connection with a registered direct offering, providing for the issuance of an aggregate of approximately 5,342,013  shares of its common stock (or common stock equivalents in lieu thereof in the form of pre-funded warrants) at a price of $7.49 per share. The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.001 and will expire when exercised in full. In addition, the investors have executed lock up agreements agreeing to a lock up period of three days. The gross proceeds from the offering are expected to be approximately $40 million.

Dario intends to use the proceeds from this financing to accelerate commercial uptake of its leading multi-condition digital health platform in the U.S. market, for the development of new or enhanced solutions, as well as for general corporate purposes. The offering is expected to close on or before March 3, 2022, subject to customary closing conditions.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-260439) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Cowen and Stifel served as global financial advisors to Dario. Rosario and LifeSci Capital Markets served as financial advisors for the offering.

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market - covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform.

Dario's next-generation, AI-powered, digital therapeutic platform supports more than just an individual's disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes.

Dario's unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results.

The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and utilizes a performance-based approach to improve its users' health.

On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions or for more information, visit http://dariohealth.com.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the expected timing of the closing of the offering. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the SEC. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

DarioHealth Corporate Contact
Suzanne Bedell
VP Marketing
[email protected]
+1-347-767-4220

Media Contact:
Josephine Galatioto
[email protected]
+1-212-845-4262

SOURCE DarioHealth Corp.