LabStyle Innovations Closes $4.2 Million Non-Brokered Private Placement Financing
LabStyle Innovations, developer of the Dario™ Diabetes Management Solution, today announced that it has closed a $4.2 million private placement offering consisting of shares of preferred stock and warrants. No placement agent was used for this financing. After estimated offering expenses, LabStyle expects to secure net proceeds of approximately $4.1 million from this financing. The lead investor in the offering is Dicilyon Consulting and Investment Ltd., an affiliate of Israeli investor David Edery, which has invested $3.0 million in the financing. The remaining investors were all institutional or accredited investors.