DIH Holding US, Inc. announces public offering of 5,937,100 units to raise approximately $4.6 million for rehabilitation devices.
Quiver AI Summary
DIH Holding US, Inc. announced the pricing of a public offering of approximately 5.9 million units, each priced at $0.7832. Each unit comprises one share of Class A common stock (or a pre-funded warrant) and a Class A warrant for one share of Class A common stock, with the warrants exercisable immediately and valid for five years. The offering is expected to close around February 3, 2025, with gross proceeds estimated at $4.6 million, intended for various corporate needs. Maxim Group LLC is the sole placement agent. The offering is registered with the SEC, and a prospectus is available for distribution. DIH specializes in advanced robotic rehabilitation devices aimed at improving the lives of individuals with disabilities. The release also includes forward-looking statements regarding the company's future operations and risks involved.
Potential Positives
- DIH Holding US, Inc. successfully priced a public offering of approximately 5.9 million units, generating expected gross proceeds of $4.6 million, which will support the company's capital expenditures and working capital needs.
- The offering includes both shares of Class A common stock and Class A warrants, providing investors with potential growth opportunities and flexibility.
- The offering is registered with the SEC, ensuring compliance with regulatory requirements and enhancing investor confidence in the company.
- DIH's focus on improving rehabilitation technologies positions the company favorably within a growing industry, potentially attracting further investment and partnerships.
Potential Negatives
- The company is raising capital through a public offering of units, which may indicate potential cash flow issues or a lack of sufficient internal funding for its needs.
- Pricing of the offering at $0.7832 per unit suggests a low share price, which may reflect negatively on investor confidence and overall market perception of the company's financial health.
- The company is acknowledging various risks and uncertainties related to its future performance, which may raise concerns among investors regarding its stability and growth potential.
FAQ
What is the purpose of DIH's public offering?
The purpose of DIH's public offering is to raise approximately $4.6 million for capital expenditures, working capital, and general corporate purposes.
How many units are being offered in DIH's public offering?
DIH is offering an aggregate of 5,937,100 units at a price of $0.7832 per unit.
What does each unit in the offering consist of?
Each unit consists of one share of Class A common stock (or a pre-funded warrant) and one Class A warrant to purchase one share of Class A common stock.
When is the expected closing date for the offering?
The closing of the offering is expected to occur on or about February 3, 2025, subject to customary closing conditions.
How can investors obtain the prospectus for the offering?
Investors can obtain the prospectus from the SEC's website or by contacting Maxim Group LLC directly.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DHAI Hedge Fund Activity
We have seen 5 institutional investors add shares of $DHAI stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TUTTLE CAPITAL MANAGEMENT, LLC removed 44,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $60,719
- PARKWOOD LLC removed 14,998 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $28,496
- POLAR ASSET MANAGEMENT PARTNERS INC. removed 13,592 shares (-9.2%) from their portfolio in Q3 2024, for an estimated $25,824
- VANGUARD GROUP INC added 9,759 shares (+1.8%) to their portfolio in Q3 2024, for an estimated $18,542
- GEODE CAPITAL MANAGEMENT, LLC added 7,577 shares (+3.3%) to their portfolio in Q3 2024, for an estimated $14,396
- YAKIRA CAPITAL MANAGEMENT, INC. removed 6,528 shares (-31.9%) from their portfolio in Q3 2024, for an estimated $12,403
- TOWER RESEARCH CAPITAL LLC (TRC) added 2,423 shares (+inf%) to their portfolio in Q3 2024, for an estimated $4,603
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NORWELL, Mass., Jan. 31, 2025 (GLOBE NEWSWIRE) -- DIH Holding US, Inc. ("DIH" or the “Company”) (NASDAQ: DHAI), a global provider of advanced robotic devices used in rehabilitation, which incorporate visual stimulation in an interactive manner to enable clinical research and intensive functional rehabilitation and training in patients with walking impairments, reduced balance and/or impaired arm and hand functions, today announced the pricing of its public offering of an aggregate of 5,937,100 units at a public offering price of $0.7832 per unit. Each unit consists of one share of Class A common stock (or pre-funded warrant in lieu thereof) and one Class A warrant to purchase one share of Class A common stock. The Class A warrants will have an exercise price of $0.7832 per share, will be exercisable immediately upon issuance, and will expire on the five-year anniversary of the original issuance date. The shares of Class A common stock (or pre-funded warrants) and the Class A warrants comprising the units are immediately separable and will be issued separately in this offering. The closing of the offering is expected to occur on or about February 3, 2025, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is acting as the sole placement agent for the offering.
The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $4.6 million. The Company intends to use the net proceeds from this offering for capital expenditures, working capital, and general corporate purposes.
The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-283853), which was declared effective by the Securities and Exchange Commission (the “SEC”) on January 31, 2025. The offering is being made only by means of a prospectus which forms a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About DIH Holding US, Inc.
DIH stands for the vision to “Deliver Inspiration & Health” to improve the daily lives of millions of people with disabilities and functional impairments through providing devices and solutions enabling intensive rehabilitation. DIH is a global provider of advanced robotic devices used in physical rehabilitation, which incorporate visual stimulation in an interactive manner to enable clinical research and intensive functional rehabilitation and training in patients with walking impairments, reduced balance and/or impaired arm and hand functions. Built through the mergers of global-leading niche technology providers, DIH is a transformative rehabilitation solutions provider and consolidator of a largely fragmented and manual-labor-driven industry.
Caution Regarding Forward-Looking Statements
This press release contains certain statements which are not historical facts, which are forward-looking statements within the meaning of the federal securities laws, for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include certain statements made with respect to the services offered by DIH and the markets in which it operates, and DIH’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions provided for illustrative purposes only, and projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; those factors identified in our “Risk Factors” included in the Form S-1 for this offering and in our periodic filings with the SEC; the ability of DIH to achieve its projected revenue, and its continued access to sources of additional debt or equity capital if needed. While DIH may elect to update these forward-looking statements at some point in the future, DIH specifically disclaims any obligation to do so.
Investor Contact
Greg Chodaczek
[email protected]