Wearable Devices Announces Warrant Inducement Agreement, Raising $1.2M In Gross Proceeds

Wearable Devices Ltd. (the "Company" or "Wearable Devices") (NASDAQ:WLDS, WLDSW))), an award-winning pioneer in artificial intelligence ("AI")-based wearable gesture control technology, today announced its entry into a warrant inducement agreement with an existing institutional investor of the Company for the immediate exercise of warrants to purchase up to 625,000 of its ordinary shares (the "January Warrants"), and warrants to purchase up to 205,500 of its ordinary shares (the "November Warrants", and together with the January Warrants the "Existing Warrants"), at a reduced exercise price of $1.45 per ordinary share, for gross cash proceeds of approximately $1.2 million, before deducting placement agent fees and other transaction expenses. The Company intends to use the net proceeds from the warrant inducement transaction for working capital and other general corporate purposes.