1/1/2024 0 Comments Tcel reverse mergerThe Company issued to the former shareholders of IR Med 31,043,945 shares of common stock in exchange for the outstanding capital stock of I.R Med. Proceeds from the private placement will be used primarily to advance the combined company’s proprietary product portfolio and for general corporate purposes. The warrant is exercisable for a three year period at a per share exercise price of $0.64. The Company also announced today that it has consummated closing of a private placement with gross proceeds of approximately $2.2 million for the issuance and sale of 3,446,875 units of Company securities, where each unit is comprised of two shares of the Company’s common stock and one common stock purchase warrant for an additional share of common stock. Initially, I.R Med’s technologies are designed to address the early detection of pressure injuries and the detection and diagnosis of ear infection, primarily in children. (OTCPINK: IDAD) announced today its successful completion of a share exchange transaction with I.R Med Ltd., an Israeli company, pursuant to which I.R Med Ltd became a wholly-owned subsidiary of the Company. The combined entity will focus on the business of I.R Med, a development stage company currently focused on the development of Infra-Red (IR) and Artificial Intelligence (AI) technologies to address the diagnosis of common medical ailments. 29, 2020 (GLOBE NEWSWIRE) - International Display Advertising, Inc.
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