Frost & Sullivan Publishes Immediate Report on Brainsway

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May 07, 2019, 07:22 ET

TEL AVIV, Israel, May 7, 2019 /PRNewswire/ -- The TASE analysis project was launched in 2016 in order to raise investor awareness to TASE listed technology and life-science companies and the markets in which these companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad. Its goal is to encourage investments in these companies by improving understanding of their industries and markets.

In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and TASE.

Summary of Highlights

Brainsway raised $ 27.5 million in ADS; fundraising success is a testament to the confidence of the US market in the company as well as its continued sales in this market.

Brainsway announced that it successfully completed the pricing stage for raising $27.5 million (before deducting additional fees and expenses related to the issue). In the framework of the round, 2.5 million American Depositary Shares (ADS), each representing 2 ordinary shares of Brainsway, will be issued at a price of $ 11 per ADS, without a discount on the closing price of the Company's share on the last trading day (April 15, 2019) in Tel Aviv. The depositary certificates are expected to begin trading on the NASDAQ under the symbol "BWAY" on April 17, 2019.

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About the company - Brainsway Ltd. is an Israeli medical device company and a global leader in the advanced noninvasive treatment of brain disorders, which focuses on the development and commercialization of an H-coil helmet device for Deep Transcranial Magnetic Stimulation (dTMS). dTMS enables non-invasive activation of deep brain structures, 2.5 times deeper than standard TMS, and can be used to treat a broad range of brain disorders. The company has FDA market approval for Major Depressive Disorder (MDD) treatment and recently received it for Obsessive Compulsive Disorder (OCD) treatment. The company also has wide reimbursement coverage for MDD. Please click here (https://ww2.frost.com/research/equity-research/brainsway-ltd/)

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.

SOURCE Frost & Sullivan