BrainsWay Ltd. (NASDAQ: BWAY) announced the closing of its previously announced underwritten public offering of 5,315,300 American Depositary Shares ("ADSs"), upsized to include 693,300 ADSs sold pursuant to the underwriters' exercise in full of their option to purchase additional ADSs, at a price to the public of $8.50 per ADS. The gross proceeds to BrainsWay from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $45.2 million.
The ADSs were offered pursuant to a "shelf" registration statement on Form F-3 (File No. 333-248601), including a base prospectus, that was previously filed by BrainsWay and as was declared effective by the Securities and Exchange Commission (the "SEC") on October 16, 2020. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC.
Ladenburg Thalmann & Co. Inc. acted as co-manager in connection with the offering.
About BrainsWay
BrainsWay Ltd. (NASDAQ: BWAY) is a commercial stage medical device company focused on the development and sale of non-invasive neurostimulation products using the company's proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform technology. The company received marketing authorization from the U.S. Food and Drug Administration (FDA) for its products for a variety of patient populations, including in 2013 for patients with major depressive disorder (MDD), in 2018 for patients with obsessive-compulsive disorder (OCD), and in 2020 for patients with smoking addiction. BrainsWay is currently conducting clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders. For more information visit www.brainsway.com.
