Wearable Devices faces Haifa court injunction bid over private placement
WLDS•Company seeks to vacate order as hearing is moved up
The company moved to vacate the order; the court refused immediate relief, moved the hearing to Aug. 12 from Aug. 16.
Unless lifted or modified, the order prevents closing the private placement while the injunction request is litigated.
Court injunction bid targets July 31 private placement
Wearable Devices faces a lawsuit in Haifa District Court’s Economic Department seeking to block its July 31 private placement.
The court issued an interim ex parte order barring steps to advance the financing or change the capital structure pending a hearing.
The private placement covers 1,000,000 ordinary shares or equivalents plus warrants for up to 1,000,000 ordinary shares.
