HERZLIYA, Israel – Beamr Imaging Ltd. (NASDAQ:BMR), a company specializing in video optimization technology, has announced an underwritten public offering of 1,714,200 ordinary shares at $7.00 each, aiming to raise approximately $12 million prior to the deduction of underwriting discounts and offering expenses. The offering, which is expected to close on February 15, 2024, will be managed by ThinkEquity as the sole book-running manager.
The company has also provided the underwriters a 45-day option to buy an additional 257,100 shares to manage any over-allotments. Beamr intends to allocate the net proceeds towards research and development, sales and marketing initiatives, cloud operating costs, and general corporate purposes, which include working capital and capital expenditures.
This public offering comes after the effectiveness of a registration statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on February 12, 2024. The final prospectus, when available, will be obtainable from ThinkEquity and will also be accessible on the SEC’s website.
Beamr, recognized for its content adaptive video solutions and backed by 53 granted patents, has been awarded the 2021 Technology and Engineering Emmy® award and the 2021 Seagate Lyve Innovator of the Year award. The company asserts that its technology can enable up to a 50% reduction in bitrate while maintaining guaranteed quality.
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