The securities purchase agreement for the financing provides for the sale of an aggregate of 150,000 shares of the Company’s common stock at a purchase price of $10 per share together with warrants to purchase an additional 300,000 shares of DIH Common Stock with an exercise price of $10.
DIH Holding US, a leading global robotics and virtual reality (“VR”) technology provider in the rehabilitation and human performance industry, announced a private placement of common stock resulting in gross proceeds of $1.5 million. OrbiMed, an existing shareholder in DIH Technologies, was the sole participant in the financing. The securities purchase agreement for the financing provides for the sale of an aggregate of 150,000 shares of the Company’s common stock at a purchase price of $10 per share together with warrants to purchase an additional 300,000 shares of DIH Common Stock with an exercise price of $10.
“We are thrilled to partner with OrbiMed, a long-term private investor in DIH, in advance of our initial trading day as a public company. This financing will provide additional working capital for the expansion of our global commercial strategy and growth initiatives,” said Jason Chen, Chairman and Chief Executive Officer of DIH. “I am encouraged by the continued support of such a well-respected healthcare investor and look forward to growing our relationship as a public company.”
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DIH stands for the vision to “Deliver Inspiration & Health” to improve the functioning of millions of people with disability and functional impairments. DIH is a global solution provider in blending innovative robotic and virtual reality (“VR”) technologies with clinical integration and insights. Built through the mergers of global-leading niche technologies providers, DIH is positioning itself as a transformative total smart solutions provider and consolidator in a largely fragmented and manual-labor-driven industry.
OrbiMed invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed’s team of over 100 professionals is based in New York City, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, London and other key global markets.
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