DarioHealth Corp. entered in to securities purchase agreement with accredited investors to issue 17,307 shares of Series C Convertible Preferred Stock at an issue price of $1,000 per Series C Convertible Preferred Stock for gross proceeds of $17,307,000, 4,000 shares of Series C-1 Convertible Preferred Stock at an issue price of $1,000 per Series C-1 Convertible Preferred Stock for gross proceeds of $4,000,000 for a total proceeds $21,307,000 on February 15, 2024. The transaction is expected to close on or before February 21, 2024. The Series C Convertible Preferred Stock and Series C-1 Convertible Preferred Stock can be convertible into shares of the company at an initial conversion price of $2.02. The Preferred Stock provides for holders of Preferred Stock, upon conversion, to receive a 7.5% dividend payable in common stock each quarter for the first four quarters, followed by a 15% stock dividend in the fifth quarter, for an aggregate stock dividend of up to 45%. Each share of Preferred Stock shall automatically convert into shares of the Company's common stock at the applicable Conversion Price upon the 15-month anniversary of the final closing of the offering.

On February 16, 2024, the company entered into Series C Purchase Agreements with accredited investors relating to the Offering and the sale of an aggregate of 1,115 shares of Series C-2 Preferred Stock at an issue price of $1,000 per Series C-2 Convertible Preferred Stock for gross proceeds of $1,115,000 bringing total proceeds to $22,422,000. Series C-2 Convertible Preferred Stock can be convertible into shares of the company at an initial conversion price of $2.14.