Ra’anana, Israel, March 30, 2022 (GLOBE NEWSWIRE) — Rail Vision Ltd. (the “Company”), a development-stage technology company seeking to revolutionize rail safety and the data-driven marketplace, today announced pricing for its initial public offering of 3,787,241 units at a price of combined public offering of $4.13 per unit, each consisting of one common share and a warrant to purchase one common share, with an initial exercise price of $4.13 per share. Gross proceeds from the offering are expected to be $15.6 million before deducting underwriting rebates, commissions and offering fees. The offering is expected to close on April 4, 2022, subject to the satisfaction of customary closing conditions.
In addition, the Company granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase up to a number of common shares and/or additional warrants, or any combination thereof, equal to 15% of the number of units sold in the offer only to cover over-allotments, if any. The purchase price payable per additional common share will be equal to the public offering price of one unit (less $0.01 allocated to the warrants), less the subscription discount. The purchase price payable per additional warrant will be $0.01. If Aegis exercises the option to purchase only these Warrants, the additional proceeds will be nominal. If Aegis exercises the option in full for the common shares, the aggregate gross proceeds of the offering, including the over-allotment, are expected to be approximately $18.0 million before deducting underwriting discounts and fees and expenses. of offer.
The common shares and warrants are expected to begin trading on the Nasdaq Capital Market on March 31, 2022, under the symbols “RVSN” and “RVSNW”, respectively.
Aegis Capital Corp. acts as the sole bookrunner for the offering.
A registration statement on Form F-1 (No. 333-262854) relating to the securities sold pursuant to this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on March 30, 2022. offering is made solely by means of a prospectus. Copies of the final prospectus may be obtained, when available, from the SEC’s website, www.sec.govor by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of such state or territory
About Rail Vision Ltd. Rail Vision is a development-stage technology company seeking to revolutionize rail safety and the data-driven marketplace. The company has developed advanced technology based on artificial intelligence, specially designed for railways. The company has developed its rail detection and systems to save lives, increase efficiency and significantly reduce expenses for rail operators. Rail Vision believes that its technology will dramatically increase rail safety around the world, while creating significant benefits and adding value to everyone who depends on the rail ecosystem: from passengers using trains for transportation to businesses that use railways to provide goods and services. Additionally, the company believes that its technology has the potential to evolve the revolutionary concept of autonomous trains into a practical reality. For more information, please visit https://www.railvision.io/
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects”, “anticipates”, “intends”, “anticipates”, “believes”, “seeks”, “estimates” and similar expressions or variations of these words are intended identify forward-looking statements. For example, the Company uses forward-looking statements when discussing expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts and are based on management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. These expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be realized, and actual results may differ materially from what is expressed or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to , the risks detailed in the Company’s Preliminary Prospectus (registration number 333-262854), filed with the SEC on March 24, 2022. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting the forward-looking information, except to the extent required by applicable securities laws. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and information contained on such websites is not incorporated by reference in this press release. Rail Vision is not responsible for the content of third party websites.
Shahar Hania Chief Executive Officer Rail Vision Ltd. 15 Ha’Tidhar St Ra’anana, 4366517 Israel Phone: +972-9-957-7706
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