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Bethel Finance news:
UltraShape Medical Ltd. (TASE: USLP) has raised a gross NIS 2.3 million in a secondary offering of 200 million shares at NIS 0.01 per share. Net proceeds will total NIS 2.03 million.
The offering was oversubscribed by 15%, amounting to orders for 230 million shares.
Ultrashape currently has NIS 2 million in cash. It said that its intends to register its ultrasound contour shaping product with the US Food and Drug Administration (FDA), but that it will limit its sales and marketing, as well as its R&D operations.
Ultrashape's share price rose 10% today to NIS 0.011, giving a market cap of NIS 30 million.
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