Full Press Release Details
IceCure Medical Ltd. Closes $17 Million Underwritten
Public Offering and Partial Exercise of Over-Allotment Option
Caesarea, Israel, December 13, 2021 - IceCure
Medical Ltd. (NASDAQ: ICCM) (TASE: ICCM.TA) (the "Company" or "IceCure"), developer
of minimally-invasive cryoablation technology, the ProSense System, that destroys tumors by freezing as an alternative
to surgical tumor removal, today announced the closing of its underwritten public offering of 3,892,152 shares of the Company's
ordinary shares, inclusive of 578,325 shares offered pursuant to the underwriters' over-allotment option, at a price to the public
of $3.45 per share, before underwriting discounts and commissions, and to certain investors in lieu of ordinary shares, pre-funded warrants
to purchase up to an aggregate of 1,034,000 ordinary shares at a price to the public of $3.449 per pre-funded warrant, which represents
the per share public offering price for the Ordinary Shares less the $0.001 per share exercise price for each such pre-funded warrant.
The gross proceeds of the offering to the Company were approximately $17 million, before deducting underwriting discounts, commissions,
and other offering expenses.
Global Partners acted as sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC,
acted as a co-manager for the offering.
intends to use the net proceeds from the offering for new product development, business development, working capital and general corporate
The offering was made by means of a prospectus.
A copy of the final prospectus related to the offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th
Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by visiting EDGAR on the SEC's
website at www.sec.gov.
A registration statement relating to these securities
was filed with the Securities and Exchange Commission and declared effective on December 8, 2021. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About IceCure Medical Ltd.
Israel-based IceCure Medical Ltd. (NASDAQ: ICCM)
(TASE: ICCM) develops and markets ProSense , an advanced liquid-nitrogen-based cryoablation therapy for the treatment of
tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally-invasive
technology is a safe and effective alternative to hospital surgical tumor removal that is easily performed in a relatively short procedure.
The system is marketed and sold worldwide for the indications approved to-date by the FDA and the European CE Mark.
Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking
statements. For example, IceCure is using forward looking statement in this press release when it discusses the benefits of cryoablation
as a treatment for breast cancer and the use of proceeds from the offering. Because such statements deal with future events and are based
on IceCure's current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements
of IceCure could differ materially from those described in or implied by the statements in this press release. The forward-looking statements
contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1, as amended (the "Form
F-1"). Copies of the Form F-1 are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this release, except as required by law.
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email: chuck@lifesciadvisors.com