IceCure Medical Ltd. announces closing of $14.5M public offering

IceCure Medical Ltd., developer of minimally-invasive cryoablation technology, the ProSense® System that destroys tumors by freezing, today announced the closing of its previously announced “best efforts” public offering of 8,787,880 shares of the Company’s ordinary shares priced at-the-market under Nasdaq rules at a price to the public of $1.65 per share. The gross proceeds of the offering to the Company were approximately $14.5 million, before deducting placement agent fees, commissions, and other estimated offering expenses.

A.G.P./Alliance Global Partners acted as lead placement agent for the offering on a best efforts basis. Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as a co-placement agent for the offering.

The Company intends to use the net proceeds from the offering to fund the development of its next generation single Probe and MultiSense systems, collecting clinical data and adding regulatory approvals in new territories and indications, business development, marketing and selling activities as well as for working capital and general corporate purposes.

This offering of the Ordinary Shares is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-267272) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering was made by means of a prospectus supplement and accompanying base prospectus.
MB Bureau