Integrity Applications, Inc. Announces Completion of Successful $8.5 Million Equity Financing

ASHKELON, Israel, Jan. 5, 2015 /PRNewswire/ -- Integrity Applications, Inc. (OTCQB: IGAP) (the "Company" or "Integrity"), developer of the GlucoTrack^® model DF-F noninvasive blood glucose measurement device, announced today that, on December 31, 2014, it raised an aggregate of $1,647,450 through the sale in a private placement transaction of 1,647.45 units (each a "Unit" and, collectively, the "Units"), at a price of $1,000 per Unit.  Each Unit consists of: (a) one share of Integrity's Series B 5.5% Convertible Preferred Stock (the "Series B Preferred Stock"), (b) a five year warrant to purchase, at an exercise price of $5.80 per share, up to such number of shares of Integrity common stock equal to 100% of the shares of Integrity common stock issuable upon conversion of such share of Series B Preferred Stock and (c) a five year warrant to purchase, at an exercise price of $10.00 per share, up to such number of shares of Integrity common stock equal to 100% of the shares of Integrity common stock issuable upon conversion of such share of Series B Preferred Stock.

This sale of Units marks the fourth and final closing of an offering of Units by Integrity. Through December 31, 2014 Integrity raised an aggregate of $8,500,000 through the sale of 8,500 Units in four closings.

The shares of Series B Preferred Stock and warrants offered in the private placement transaction and the shares of Integrity common stock issuable upon the conversion of the Series B Preferred Stock and/or the exercise of the warrants have not been registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States unless such sale is made pursuant to an effective registration statement filed with the United States Securities and Exchange Commission (the "SEC") or pursuant to an applicable exemption from registration.  Integrity has agreed to file a registration statement with the SEC covering the shares of Integrity common stock issuable upon the conversion of the Series B Preferred Stock and/or the exercise of the warrants.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Contact:

Eran Hertz, CFO
Integrity Applications
+972 (8) 675-7878 ext. #3
[email protected]

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SOURCE Integrity Applications, Inc.

Related Links

http://www.integrity-app.com