8-K/A
filed May 9, 2023, 7:59 PM ET
ticker DRIO
CIK 0001533998
debt
confidence high
sentiment neutral
materiality 0.70
DarioHealth amends 8-K; clarifies warrant & Series A-1 shares; closed $15.4M equity & $30M loan
DarioHealth Corp.
- Raised $15.4M gross from sale of Series B, B-1, B-2, B-3 Preferred Stock at $1,000 per share.
- Secured $30M initial tranche from Avenue Venture's $40M credit facility; interest at higher of (prime+4.5%) or 12.5%.
- Issued lenders warrants for 584,884 shares at $3.334/share, 5-year term; terms clarified in this amendment.
- Terminated prior OrbiMed credit agreement upon funding of new loan facility.
- Series A-1 holders can earn up to 382,050 additional common shares for deferring conversion; reduced number clarified.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
DarioHealth Corp.: Filed Certificates of Designation for Series B, B-1, and B-2 Preferred Stock (effective 2023-05-01).
- Change
- charter amendment
- Effective
- 2023-05-01
Exact text from the filing
On May 1, 2023, the Company filed the Series B Certificate of Designation, designating 30,000 shares of Series B Preferred Stock, the Series B-1 Certificate of Designation, designating 15,000 shares of Series B-1 Preferred Stock, and the Series B-2 Certificate of Designation, designating 15,000 shares of Series B-2 Preferred Stock in connection with the Offering.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
DarioHealth Corp.: Filed Certificate of Designation for Series B-3 Preferred Stock (effective 2023-05-05).
- Change
- charter amendment
- Effective
- 2023-05-05
Exact text from the filing
On May 5, 2023, the Company filed the Series B-3 Certificate of Designation, designating 15,000 shares of Series B-3 Preferred Stock in connection with the Offering.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
DarioHealth Corp. entered into Series B Purchase Agreement with accredited investors (effective 2023-05-01).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- accredited investors
- Effective
- 2023-05-01
Exact text from the filing
On May 1, 2023, DarioHealth Corp. (the “Company”) entered into securities purchase agreements (each, a “Series B Purchase Agreement”) with accredited investors relating to an offering (the “Offering”) and the sale of an aggregate of 6,200 shares of newly designated Series B Preferred Stock (the “Series B Preferred Stock”), an aggregate of 7,946 shares of Series B-1 Preferred Stock (the “Series B-1 Preferred Stock”), and an aggregate of 150 shares of Series B-2 Preferred Stock (the “Series B-2 Preferred Stock”) at a purchase price of $1,000 for each share of Preferred Stock.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
DarioHealth Corp. entered into Series B-3 Purchase Agreement with accredited investors (effective 2023-05-05).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- accredited investors
- Effective
- 2023-05-05
Exact text from the filing
On May 5, 2023, the Company entered into purchase agreements (the “Series B-3 Purchase Agreement” and together with the Series B Purchase Agreement, the “Purchase Agreement”) with accredited investors, relating to the Offering, to an offering and the sale of an aggregate of 1,106 shares of newly designated Series B-3 Preferred Stock (the “Series B-3 Preferred Stock” and, collectively with the Series B Preferred Stock, the Series B-1 Preferred Stock and the Series B-2 Preferred Stock, the “Preferred Stock”), at a purchase price of $1,000 for each share of Preferred Stock.
View on SEC.gov
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