DarioHealth (DRIO) Prices 5.34M Share Direct Offering at $7.49/sh

DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market, announced today that on February 28, 2022 it entered into definitive agreements with institutional investors, including insurance companies located in Israel and primarily consisting of existing shareholders, in connection with a registered direct offering, providing for the issuance of an aggregate of approximately 5,342,013 shares of its common stock (or common stock equivalents in lieu thereof in the form of pre-funded warrants) at a price of $7.49 per share. The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.001 and will expire when exercised in full. In addition, the investors have executed lock up agreements agreeing to a lock up period of three days. The gross proceeds from the offering are expected to be approximately $40 million.

Dario intends to use the proceeds from this financing to accelerate commercial uptake of its leading multi-condition digital health platform in the U.S. market, for the development of new or enhanced solutions, as well as for general corporate purposes. The offering is expected to close on or before March 3, 2022, subject to customary closing conditions.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-260439) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

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

Cowen and Stifel served as global financial advisors to Dario. Rosario and LifeSci Capital Markets served as financial advisors for the offering.

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