Tel Aviv, September 12 (Patrika English News): Shares of Wearable Devices Ltd. (NASDAQ: WLDS) surged more than 64% on Thursday after the Israel-based company announced a $4 million financing round, a new U.S. patent, and stronger first-half results.
The firm said it entered into a direct offering with an institutional investor for 1 million ordinary shares at $4 each. The agreement also includes unregistered warrants for an additional 1 million shares, exercisable at the same price over five years. The deal is expected to close on September 12, subject to customary approvals.
Separately, the company disclosed it has secured a U.S. patent for its Gesture and Voice Controlled Interface Device, which combines hand gestures, voice commands, and biometric verification to enhance user interaction. The patent announcement triggered an after-hours rally on Wednesday, sending WLDS shares up more than 18% to $6.12.
For the first half of 2025, Wearable Devices reported revenue of $294,000, marking its first commercial sales milestone, led by the Mudra Link neural wristband and continued sales of the Mudra Band for Apple Watch. Net loss narrowed to $3.7 million from $4.2 million a year earlier, driven by lower research and administrative costs.
The company also highlighted defense-related projects using touchless neural control systems and a new distribution partnership in Japan with Media Exceed Co., aimed at expanding its presence in Asia. Executives said these steps strengthen both the firm’s patent portfolio and long-term commercialization strategy.
At last check Thursday, WLDS stock was trading up 64.67% at $8.53.