IPO update, page-1193

GMVD: G Medical Innovations announces $12M private placementG Medical Innovations Holdings announced it has entered into a securities purchase agreement with a single institutional investor to issue, in a private placement, 2,400,000 ordinary shares and warrants to purchase up to an aggregate of 2,400,000 ordinary shares, at a purchase price of $5.00 per ordinary share and associated warrant, for expected gross proceeds to the company of approximately $12M, before deducting placement agent fees and other offering expenses payable by the Company. The warrants will have an exercise price of $5.00 per ordinary share, will be exercisable immediately upon issuance, and will have a term of five years from the date of issuance. The closing of the private placement is expected to occur on or about February 2, 2022 subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the private placement for partial repayment of existing debt and working capital purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the private placement.