DarioHealth secures $50M non-dilutive credit facility with OrbiMed; $25M drawn at close

DarioHealth Corp.

$50M senior secured term loan from OrbiMed; $25M funded at closing, $25M available before June 30, 2023 subject to revenue thresholds.
Interest rate: adjusted SOFR + 9.50% (floor 0.50%); warrants issued for 226,586 shares at $6.62, 7-year term.
CEO states cash runway potentially >$100M, enabling multi-year business plan without further capital raises.
Facility is non-dilutive, supports B2B segment growth and platform development.
Obligations secured by substantially all assets; $10M minimum unrestricted cash covenant; subsidiary guarantees.

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