MySize raises $2.5M through private placement offering

MySize Inc., a technology and commerce company based in Israel, has announced a successful private placement offering. The company sold 1,308,901 shares of common stock or pre-funded warrants at a price of $1.91 per share. The offering included Series C and Series D warrants, granting the holders the option to purchase up to 1,308,901 additional shares of common stock.

These warrants have exercise prices of $1.66 per share and can be exercised immediately after issuance. The Series C warrants have a five-year term, while the Series D warrants are valid for 18 months. The transaction is expected to close today, provided all closing conditions are met. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

MySize intends to utilize the net proceeds raised from the sale for general corporate purposes, such as maintaining working capital. The securities were offered under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and are not registered under the Act or applicable state securities laws. MySize stated that the company will file one or more registration statements with the SEC to cover the resale of the unregistered securities issued in the offering.

The company operates in the fashion and retail industries, providing AI-enabled sizing solutions, e-commerce, second-hand fashion, and brand distribution.