---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-025807"
form_type: "8-K"
ticker: "DRIO"
cik: "0001533998"
company_name: "DarioHealth Corp."
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T22:02:15.542927+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# DarioHealth acquires Twill for $10M cash + ~10M pre-funded warrants; raises $22.4M PIPE

## Summary
- Acquisition expected to nearly double pro forma 2023 revenue, to ~$30.5M combined.
- Gross margins targeted at 80-85% by 2025; cost synergies of ~30% within two years.
- Concurrent $22.4M private placement of convertible preferred stock at conversion prices $2.02/$2.14.
- Tomer Ben-Kiki, Twill co-founder, appointed COO with $340K salary + stock option for 1,017,947 shares.
- Twill brings customers including three of top eight national health plans and multiple Fortune 100 employers.

## SEC filing metadata
- accession: 0001104659-24-025807
- form_type: 8-K
- ticker: DRIO
- cik: 0001533998
- company_name: DarioHealth Corp.
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533998/000110465924025807/0001104659-24-025807-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533998/000110465924025807/tm246662d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-025807
- JSON: https://secwatch.observer/filing/0001104659-24-025807.json
- Plain text: https://secwatch.observer/filing/0001104659-24-025807.txt

## Key facts
- Executive change
  Tomer Ben-Kiki was appointed as Chief Operating Officer at DarioHealth Corp..
  - Action: appointed
  - Role: Chief Operating Officer
  source text: On February 15, 2024, the Company appointed Tomer Ben-Kiki, age 53, as Chief Operating Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533998/000110465924025807/0001104659-24-025807-index.htm
- Material Agreements
  DarioHealth Corp. entered into Agreement and Plan of Merger with Twill, Inc. (effective 2024-02-15).
  - Action: entry
  - Agreement: merger
  - Counterparty: Twill, Inc.
  - Effective: 2024-02-15
  source text: (“Merger Sub”), Twill, Inc. (“Twill”) and Bilal Khan, solely in his capacity as the representatives of Twill’s stockholders and other equity holders, entered into an Agreement and Plan of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533998/000110465924025807/0001104659-24-025807-index.htm
- Material Agreements
  DarioHealth Corp. entered into Series C Purchase Agreement with accredited investors valued at approximately $22,422,000 (effective 2024-02-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: accredited investors
  - Value: approximately $22,422,000
  - Effective: 2024-02-15
  source text: the Company entered into securities purchase agreements (each, a “Series C Purchase Agreement”) with accredited investors relating to an offering (the “Offering”) and the sale of an aggregate of (i) 17,307 shares of newly designated Series C Preferred Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533998/000110465924025807/0001104659-24-025807-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.