IGAP Integrity Applications Inc

Integrity Applications Announces Closing of $15.0 Million Private Placement

Integrity Applications Announces Closing of $15.0 Million Private Placement

Wilmington, DE and Ashdod, Israel, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Integrity Applications, Inc. () (OTCQB: IGAP), innovator of , a non-invasive device for measuring glucose levels in people with Type 2 diabetes and prediabetes, announced today that it has closed a private placement of its common stock, which resulted in gross proceeds of $15.0 million. The 37,500,000 shares were sold at a price of $.40 per share.

The Company intends to use the net proceeds from the private placement to support the ongoing development of the next generation wireless GlucoTrack and working capital and general corporate purposes.

The common stock sold in the private placement has not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction’s securities laws, and may not be offered for resale or re-sold in the United States, absent registration or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the shares of common stock sold in the private placement.

Andrew Garrett, Inc. acted as exclusive placement agent for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the common stock, nor shall there be any sale of the common stock in any state in which such offer or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About GlucoTrack®

GlucoTrack® is a truly non-invasive monitoring device that rapidly measures and displays an individual’s glucose level in about a minute without finger pricking or any pain. GlucoTrack® features an ear clip with sensors that clips to the earlobe and measures the user’s glucose level using innovative and patented sensor technologies. The measured signals are analyzed using a proprietary algorithm and then a calculated glucose level is displayed on a small handheld device the size of a small mobile phone. The glucose results are stored in the device and used to estimate HbA1c level using a proprietary algorithm. The device can also display glucose values graphically, enabling the user to monitor glucose levels over time. GlucoTrack® has received approvals for CE Mark in Europe and from the Ministry of Food and Drug Safety in South Korea for type 2 diabetes and prediabetes and is currently available in selected markets in Europe and Asia.

About Integrity Applications, Inc.

Integrity Applications, Inc. (OTCQB: IGAP) was founded in 2001 and is focused on the design, development, and commercialization of non-invasive glucose monitoring technologies for people with type 2 diabetes and prediabetes. The Company has developed GlucoTrack®, a proprietary non-invasive glucose monitoring device designed to obtain glucose level measurements in about a minute without the pain, incremental cost, difficulty, or discomfort of conventional invasive finger stick devices. Integrity Applications Inc. is a Delaware corporation, with headquarters and an R&D site in Ashdod, Israel. For more information, please visit  and .

Investor Contact: 

Media Contact:

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “expect”, “plan” and “will” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect Integrity Applications’ actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect Integrity Applications’ results include, but are not limited to, the ability of Integrity Applications to raise additional capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise); risks relating to the receipt (and timing) of regulatory approvals (including FDA approval); risks relating to enrollment of patients in, and the conduct of, clinical trials; risks relating to its current and future distribution agreements; risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel; and the additional risk factors described in Integrity Applications’ filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2018 as filed with the SEC on April 12, 2019.

EN
24/02/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Integrity Applications Inc

 PRESS RELEASE

GlucoTrack, Inc. Announces Effectiveness of Corporate Name Change and ...

GlucoTrack, Inc. Announces Effectiveness of Corporate Name Change and Ticker Symbol Change To begin trading under the Nasdaq Symbol GCTK Rutherford, NJ and Or Yehuda, Israel, March 14, 2022 (GLOBE NEWSWIRE) -- GlucoTrack, Inc. (Nasdaq: GCTK) (“GlucoTrack” or the “Company”), formerly known as Integrity Applications, Inc., (Nasdaq: IGAP), innovator of , a non-invasive device and digital health platform for measuring glucose levels in people with Type 2 diabetes and prediabetes, announced today that it has completed its corporate name and ticker symbol change on the Nasdaq Capital Market, t...

 PRESS RELEASE

Integrity Applications veröffentlicht einen Brief mit Neuigkeiten für ...

Integrity Applications veröffentlicht einen Brief mit Neuigkeiten für Anteilseigner Wilmington, DE und Or Yehuda, Israel, 20, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Integrity Applications, Inc. () (NASDAQ: IGAP), Erfinder von , einem nicht-invasivem Gerät zur Messung der Glukosewerte bei Personen mit Diabetes Typ II und Prädiabetes, hat heute angekündigt, dass Paul V. Goode, PhD, Präsident und Chief Executive Officer, eine Nachricht und einen Brief mit aktuellen Informationen für Anteilseigner veröffentlicht hat.  Sehr geehrte Anteilseigner/innen: Am 1. November bin ich von meiner Positi...

 PRESS RELEASE

Integrity Applications diffuse sa lettre d'information aux actionnaire...

Integrity Applications diffuse sa lettre d'information aux actionnaires Wilmington, DE et Or Yehuda, Israël, 21 déc. 2021 (GLOBE NEWSWIRE) -- Integrity Applications, Inc. () (NASDAQ : IGAP), créateur du dispositif médical non invasif qui permet de mesurer les taux de glucose chez les personnes atteintes de diabète et pré-diabète de type II, a annoncé aujourd'hui la diffusion par Paul V. Goode, président-directeur général de la société, d'un message et d'un courrier d'actualités annuelles à destination des actionnaires. À l'attention de nos actionnaires : Le 1er novembre, j'ai démission...

 PRESS RELEASE

Integrity Applications Issues Shareholder Update Letter

Integrity Applications Issues Shareholder Update Letter Wilmington, DE and Or Yehuda, Israel, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Integrity Applications, Inc. () (NASDAQ: IGAP), innovator of , a non-invasive device for measuring glucose levels in people with Type II diabetes and prediabetes announced today that Paul V. Goode, PhD, President and Chief Executive Officer has provided a message and year-to-date shareholder update letter.  To our valued shareholders: On November 1st, I stepped down from my position on the board to become President and Chief Operating Officer of the company. In...

 PRESS RELEASE

Integrity Applications Issues Shareholder Update Letter

Integrity Applications Issues Shareholder Update Letter Wilmington, DE and Or Yehuda, Israel, Dec. 20, 2021 (GLOBE NEWSWIRE) --  Integrity Applications, Inc. () (NASDAQ: IGAP), innovator of , a non-invasive device for measuring glucose levels in people with Type II diabetes and prediabetes announced today that Paul V. Goode, PhD, President and Chief Executive Officer has provided a message and year-to-date shareholder update letter.  To our valued shareholders: On November 1st, I stepped down from my position on the board to become President and Chief Operating Officer of the compan...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch