MySize Inc. Secures $3 Million Through Warrant Exercises, Bolstering AI-Driven Retail Solutions

MySize Inc. Announces $3 Million of Warrant Exercises - My Size (NASDAQ:MYSZ)

Proceeds expected to Drive Strategic Growth Initiatives, Strengthen Financial Position, and Support Orgad's Expansion AIRPORT CITY, Israel, Dec. 31, 2024 /PRNewswire/ -- MySize Inc. (NASDAQ: MYSZ), a leader in technology-driven solutions for the retail market, today announced (as previously disclosed in a Current Report on Form 8-K filed with the SEC on December 30, 2024) that it raised $3 million through the exercise of certain outstanding warrants. These proceeds add to the company's existing financial resources, enhancing its financial position, and supporting the growth of its business. MySize is focused on providing innovative AI and big data-driven solutions to reduce returns and increase conversion rates for retailers, empowering them to optimize operations and enhance customer satisfaction. This additional capital is expected to enable the company to accelerate advancements in its technology offerings while also supporting Orgad's growth as a dynamic digital merchant specializing in apparel and shoes. The new funds are expected to support key strategic initiatives, including: Expanding Orgad's Capabilities: we intend to use the proceeds to enhance operational efficiencies, grow inventory, and expand Orgad's reach across leading e-commerce platforms, driving higher revenues and market share.Pursuing Strategic M&A Opportunities: we intend to leverage our improved financial position to identify acquisitions that complement our focus on AI-driven solutions for the retail sector.Advancing Technology and Product Development: we intend to accelerate R&D efforts to further develop our suite of AI and big data solutions and deliver enhanced tools for retailers to improve operational efficiency and customer experiences.Scaling Sales and Market Expansion: we expect the funds to boost sales efforts and increase market penetration towards supporting the achievement of the company's ambitious milestones set for 2025. Ronen Luzon, CEO of MySize Inc., commented: "This $3 million injection positions MySize to expand our impact in the retail market through innovative AI and big data solutions. Additionally, Orgad is expected to benefit from this funding as we scale its operations and expand its footprint on leading e-commerce platforms. Together, these efforts align with our strategy to drive growth towards achieving our 2025 milestones so that we can create sustainable value for shareholders." About MySize Inc. MySize, Inc. MYSZ is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company's solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and X (formerly known as Twitter). For more information, visit www.mysizeid.com. This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to its strategic and business plans, technology, relationships, objectives, expectations for its business, growth and use of proceeds with respect to the recent warrant exercise. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. For more information, please contact: Or Kles, CFO Email: [email protected] Logo - https://mma.prnewswire.com/media/689689/3320229/MySize_Logo.jpg View original content:https://www.prnewswire.com/news-releases/mysize-inc-announces-3-million-of-warrant-exercises-302340635.html SOURCE My Size Inc. Market News and Data brought to you by Benzinga APIs

MySize secures $3 million from warrant exercises By Investing.com

AIRPORT CITY, Israel - MySize Inc. (NASDAQ: MYSZ), a technology company specializing in AI-driven retail solutions, announced Monday that it has raised $3 million from the exercise of outstanding warrants. With a current market capitalization of $5.56 million, this capital boost is set to fortify the company's financial position and fuel its strategic growth initiatives, including the expansion of its digital merchant subsidiary, Orgad. According to InvestingPro analysis, MySize maintains a healthy balance sheet with more cash than debt, though the company has been rapidly deploying its cash reserves for growth. The funds are earmarked for several key areas: enhancing Orgad's operational efficiencies, inventory growth, and e-commerce reach; pursuing complementary acquisitions in the AI retail sector; accelerating research and development in AI and big data; and scaling sales and market expansion efforts. These initiatives align with MySize's goal to achieve its ambitious 2025 milestones and drive shareholder value. The company's revenue grew by 43.89% over the last twelve months, and analysts expect a further 33% growth in the current fiscal year, according to InvestingPro data. Ronen Luzon, CEO of MySize, stated that the additional $3 million positions the company to expand its retail market footprint and supports Orgad's operational scaling and e-commerce presence. MySize's technology offerings, such as MySizeID and Naiz Fit, aim to increase retailers' conversion rates and reduce returns, thereby improving operational efficiency and customer satisfaction. The company maintains a strong liquidity position with a current ratio of 2.49, indicating robust ability to meet short-term obligations. MySize's forward-looking statements in the press release highlight its strategic and business plans, technology advancements, and the anticipated use of the proceeds from the warrant exercise. The company cautions that these statements are subject to risks and uncertainties that could cause actual results to differ from expectations. Investors seeking detailed financial analysis and additional insights can access over 12 more exclusive ProTips and comprehensive financial metrics through InvestingPro. The announcement is based on a press release statement from MySize Inc. and contains forward-looking statements that involve risks and uncertainties. MySize regularly posts investor-relevant information on its website and maintains a presence on social media platforms. In other recent news, My Size, Inc. announced a 23% growth in revenue and is projecting a target of $15M in 2025. The company also reported a successful exercise of warrants, which resulted in gross proceeds of approximately $3M. The company's AI-driven sizing solution, Naiz Fit, continues to make strides, delivering over 42 million personalized size recommendations across numerous countries and supporting 1.5 million virtual try-ons. However, despite these developments, analyst firm H.C. Wainwright adjusted its price target for MySize's shares from $5.00 to $3.00, while maintaining a Buy rating. At the company's annual meeting, shareholders voted in favor of all items on the agenda, including the election of a Class III director and the ratification of the company's independent public accountant for the upcoming fiscal year. These are the recent developments for My Size, Inc.