text: ItamarTM Medical Announces Proposed $30 Million Offering of American Depositary Shares | Itamar Medical
  ItamarTM Medical Announces Proposed $30 Million Offering of American Depositary Shares
  CAESAREA, Israel, January 28, 2020 — Itamar Medical Ltd. (Nasdaq: ITMR) (TASE: ITMR), a medical technology company focused on the development and commercialization of non-invasive medical devices to aid in the diagnosis of respiratory sleep disorders, today announced the commencement of a proposed $30 million public offering of American Depositary Shares ("ADSs"). Each ADS represents 30 ordinary shares of Itamar Medical. All of the ADSs to be sold in the offering will be offered by Itamar Medical. The Company intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the ADSs being offered on the same terms and conditions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
  Itamar Medical intends to use the net proceeds from the offering to hire additional sales and marketing personnel and expand its marketing programs, fund product development, research and development activities, and clinical research, invest in information technology and facility infrastructure, and for working capital and general corporate purposes.
  Itamar Medical is a medical technology company focused on the development and commercialization of non-invasive medical devices to aid in the diagnosis of respiratory sleep disorders. Itamar Medical commercializes a digital healthcare platform to facilitate the continuum of care for effective sleep apnea management with a focus on the core sleep, cardiology and direct to consumer markets. Itamar Medical offers a Total Sleep Solution
  to help physicians provide comprehensive sleep apnea management in a variety of clinical environments to optimize patient care and reduce healthcare system costs.