DIH Holding US, Inc. closes public offering of 5,937,100 units, raising approximately $4.6 million for corporate purposes.
Quiver AI Summary
DIH Holding US, Inc. has successfully closed its public offering, raising approximately $4.6 million by selling 5,937,100 units at a price of $0.7832 each. Each unit includes one share of Class A common stock and a Class A warrant, which can be exercised at the same price and will expire five years after issuance. The proceeds from this offering will be utilized for capital expenditures, working capital, and general corporate purposes. The offering was conducted under a registration statement approved by the SEC, and details can be found in the final prospectus available on the SEC's website. DIH focuses on providing advanced robotic devices for rehabilitation, aiming to improve the lives of individuals with disabilities through innovative solutions.
Potential Positives
- DIH Holding US, Inc. successfully closed a public offering of 5,937,100 units, raising approximately $4.6 million in gross proceeds, which can enhance its financial stability and facilitate business development.
- The offering included Class A common stock and warrants, providing investors with an incentive for future equity participation in the company.
- The proceeds from the offering are intended for capital expenditures, working capital, and general corporate purposes, indicating proactive financial management and investment in growth.
- The company's rehabilitation devices and solutions support a transformative approach in a fragmented industry, showcasing DIH's commitment to innovation and improving lives for individuals with functional impairments.
Potential Negatives
- The public offering price of $0.7832 per unit may indicate a lack of confidence in the company's valuation, especially if this price is perceived as low by the market.
- The reliance on a public offering to raise approximately $4.6 million could suggest potential cash flow issues or limited access to alternative funding sources.
- The warnings regarding forward-looking statements highlight significant uncertainty about DIH's future performance and market conditions, which may concern investors and stakeholders.
FAQ
What types of devices does DIH Holding US, Inc. provide?
DIH provides advanced robotic devices used in rehabilitation, aiding patients with walking impairments and reduced balance.
How much did DIH raise in its recent public offering?
The company raised approximately $4.6 million in its recent public offering of 5,937,100 units.
What are Class A warrants in the offering?
Class A warrants allow the purchase of one share of Class A common stock at an exercise price of $0.7832.
How can I access the final prospectus for the offering?
The final prospectus can be accessed on the SEC's website at www.sec.gov or by contacting Maxim Group LLC.
What will the proceeds from the public offering be used for?
The net proceeds will be used for capital expenditures, working capital, and general corporate purposes.
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., Feb. 03, 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 closing of its previously announced 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 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, are exercisable immediately upon issuance, and will expire on the five-year anniversary of the original issuance date. The shares of Class A common stock and the Class A warrants comprising the units are immediately separable and were issued separately in this offering.
Maxim Group LLC acted 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, were 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 were 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 was made only by means of a prospectus which forms a part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus 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]