UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 | Entry into a Material Definitive Agreement. |
On October 22, 2021, DarioHealth Corp. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with Cowen and Company, LLC (“Cowen”), as agent, pursuant to which the registrant may issue and sell shares of its common stock having an aggregate offering price of up to $50 million from time to time through Cowen.
Any sales of shares of common stock pursuant to the Sales Agreement will be made pursuant to a shelf registration statement on Form S-3 (the “Registration Statement”) and the prospectus contained therein, after such Registration Statement is declared effective by the Securities and Exchange Commission. Cowen may sell common stock (A) in privately negotiated transactions with our consent or (B) by any other method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including block transactions, sales made directly on The Nasdaq Capital Market or sales made into any other existing trading market for the registrant’s common stock. Subject to the terms and conditions of the Sales Agreement, Cowen will use its commercially reasonable efforts to sell the shares of the registrant’s common stock from time to time, based upon its instructions (including any price, time or size limits or other parameters or conditions that we may impose). The registrant will pay to Cowen a cash commission of up to 3.0% of the gross proceeds from the sale of any shares of common stock by Cowen under the Sales Agreement. The registrant and Cowen have also provided each other with customary indemnification rights.
The registrant is not obligated to make any sales of common stock under the Sales Agreement and no assurance can be given that it will sell any shares under the Sales Agreement, or, if it does, as to the price or number of shares that it will sell, or the dates on which any such sales will take place. The Sales Agreement may be terminated by either party as set forth in the Sales Agreement.
The Registration Statement relating to the common stock to be offered and sold under the Sales Agreement has been filed with the Securities and Exchange Commission but has not yet become effective. The common stock may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective.
The above disclosure shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the 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.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description | |
1.1 | Sales Agreement, dated October 22, 2021, by and between DarioHealth Corp. and Cowen and Company, LLC | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 22, 2021 | DARIOHEALTH CORP. | |
By: | /s/ Zvi Ben David | |
Name: Zvi Ben David Title: Chief Financial Officer, Treasurer and Secretary |