Benzinga | Feb 23, 2021 08:40AM EST

BrainsWay Prices 4.622M ADS Offering At $8.50/Share

CRESSKILL, N.J. and JERUSALEM, Feb. 23, 2021 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) ("BrainsWay" or the "Company"), a global leader in the advanced noninvasive treatment of brain disorders, today announced it has priced an underwritten public offering of 4,622,000 American Depositary Shares, each representing two ordinary shares, at an offering price of $8.50 per American Depositary Share. The gross proceeds from the offering will be approximately $39,287,000, before deducting underwriting discounts and commissions and estimated offering expenses. BrainsWay has also granted the underwriters a 30-day option to purchase up to an additional 693,300 American Depositary Shares on the same terms and conditions. The closing of the offering is expected to take place on February 25, 2021, subject to the satisfaction of customary closing conditions.