ScoutCam
Assembly Line
ScoutCam Closes $14 Million Private Placement
ScoutCam (OTCQB: SCTC), a leading provider of Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) solutions, today announced that it has completed a private placement to existing stockholders, of 3,294,117 units, at a purchase price of $4.25 per unit, with each unit consisting of one share of the Company’s common stock and one three-year warrant to purchase one share of the Company’s common stock at an exercise price of $5.50 per share, pursuant to the terms of Stock Purchase Agreements entered into on March 16, 2023. Gross proceeds from the private placement of approximately $14 million are expected to be used for working capital and general corporate purposes, including to further advance the Company’s innovative products and technology in the fields of Predictive Maintenance and Condition Based Monitoring, critical pillars of Industry 4.0.