Beamr Imaging Announces Public Offering to Raise $12 Million for Video Optimization Technology
HERZLIYA, Israel – Beamr Imaging Ltd. (NASDAQ:BMR), a leading company in video optimization technology, has revealed plans for an underwritten public offering. The offering consists of 1,714,200 ordinary shares priced at $7.00 each, with a goal to raise around $12 million before underwriting discounts and offering expenses.
ThinkEquity has been appointed as the sole book-running manager for the offering, which is projected to close on February 15, 2024. In addition, the company has granted the underwriters a 45-day option to purchase an extra 257,100 shares to cover any over-allotments.
The net proceeds from the offering will be allocated towards various purposes, including research and development, sales and marketing initiatives, cloud operating costs, and general corporate needs, such as working capital and capital expenditures.
This public offering follows the effectiveness of a registration statement on Form F-1 that was filed with the Securities and Exchange Commission (SEC) on February 12, 2024. Once available, the final prospectus can be obtained from ThinkEquity and will also be accessible on the SEC’s website.
Beamr, a renowned provider of content adaptive video solutions, boasts an impressive track record with 53 granted patents. The company has received accolades, including the prestigious 2021 Technology and Engineering Emmy® award and the 2021 Seagate Lyve Innovator of the Year award. Beamr’s groundbreaking technology has the potential to achieve up to a 50% reduction in bitrate while ensuring exceptional quality.
Investors and industry experts eagerly anticipate the closing of this public offering, as Beamr Imaging continues to revolutionize the video optimization landscape with its pioneering technology.
Analyst comment
As an analyst, I would evaluate this news as positive. The public offering aims to raise $12 million for Beamr Imaging, which will be allocated towards research and development, sales and marketing, and general corporate needs. The company’s innovative video optimization technology has already received recognition and the funds raised will likely support further growth and development. Overall, this news suggests a positive outlook for Beamr Imaging and the market.
