RiT Technologies Announces Closing of Public Offering
TEL AVIV, Israel, Nov. 27, 2013
TEL AVIV, Israel, Nov. 27, 2013 /PRNewswire/ --RiT Technologies Ltd. (NASDAQ:
RITT) (the "Company" or "RiT"), a provider of IIM solutions and a developer of
an innovative indoor optical wireless technology solution, announced the
closing of its previously announced underwritten public offering of 3,000,000
ordinary shares and warrants to purchase 1,500,000 ordinary shares at an
offering price of $2.00 per share and $0.01 per warrant. In addition, the
underwriter exercised its over-allotment option to purchase warrants to
acquire an additional 225,000 ordinary shares at an offering price of $0.01
per warrant. The warrants have a per share exercise price of $2.50, are
exercisable immediately, and expire 5 years from the date of issuance. The
warrants began trading on The NASDAQ Capital Market on November 22, 2013 under
the symbol "RITTW."
Aegis Capital Corp. acted as the sole book-running manager for this offering.
A registration statement on Form F-1 relating to the offering was filed with
the Securities and Exchange Commission and is effective. A final prospectus
relating to the offering has been filed with the SEC and is available on the
SEC's web site at http://www.sec.gov. Copies of the final prospectus relating
to the offering may be obtained from the offices of Aegis Capital Corp.,
Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019,
telephone: 212-813-1010 or email: email@example.com.
This press release does not constitute an offer to sell, or the solicitation
of an offer to buy, these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale is not permitted.
About RiT Technologies
RiT is a provider of IIM solutions and a developer of an innovative indoor
optical wireless technology solution.
Statements contained herein that are not based on historical fact, as well as
other statements including words such as "anticipate," "believe," "plan,"
"estimate," "expect," "intend," "will," "could" and other similar expressions,
constitute forward-looking statements under the Private Securities Litigation
Reform Act of 1995. For example, forward-looking statements include statements
regarding our public offering and its anticipated closing date. Such
forward-looking statements are based on current assumptions but involve known
and unknown risks and uncertainties that may cause the Company's actual
results, performance or achievements to differ materially from current
expectations. These risks include economic, competitive, governmental,
technological and other factors discussed in the Company's annual, quarterly
and other periodic public filings on record with the Securities and Exchange
Commission. Except as otherwise required by law, the Company undertakes no
obligation to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
For more information, please contact:
Elan Yaish, CFO
KCSA Strategic Communication
Jeffrey Goldberger/Rob Fink
firstname.lastname@example.org / email@example.com
SOURCE RiT Technologies
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