Assure Holdings Corp. Announces Closing Of $6 Million Underwritten Public Offering

DENVER, May 16, 2023 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (NASDAQ: IONM) (“Assure Holdings” or the “Company”), a provider of intraoperative neuromonitoring and remote neurology services, today announced the closing of an underwritten public offering of 5,000,000 shares of its common stock (or prefunded warrants in lieu thereof) at an offering price to the public of $1.20 per share (or $1.199 per pre-funded warrant). The pre-funded warrants are immediately exercisable at a nominal exercise price of $0.001 or on a cashless basis and may be exercised at any time until all of the pre-funded warrants are exercised in full.

Joseph Gunnar & Co., LLC acted as the sole book-running manager for the offering.

The gross proceeds to the Company from the offering are approximately $6 million, before deducting the underwriters’ fees and other offering expenses payable by Assure. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, marketing, product development and capital expenditures.

The Company has granted the underwriters in the offering a 45-day option to purchase up to 750,000 additional shares of the Company’s common stock and/or pre-funded warrants, in any combination thereof, from the Company at the public offering price, less underwriting discounts and commissions, solely to cover over-allotments, if any.

The securities were offered pursuant to the Company’s registration statement on Form S-1 (File No. 333-269438), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on May 11, 2023.   The offering was made only by means of a prospectus which is a part of the effective registration statement. A copy of the final prospectus relating to the offering was with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus may also be obtained, when available, from Joseph Gunnar & Co., LLC, 30 Broad Street, 11^th Floor, New York, NY 10004, Attn: Syndicate Department, by phone [phone].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.