ScoutCam Inc. announced that it has entered into a securities purchase agreement for private placement of 3,294,117 units at a price of $4.25 per unit for gross proceeds of $14,000,000 on March 16, 2023. The transaction was led by returning investor Phoenix Insurance Company Limited and included participation from Shotfut Menayot Israel - Phoenix Amitim. Each common share unit consists of one common share and one common share purchase warrant.

Each warrant will be exercisable to purchase one common share at $5.50 per share for a period of 3 years from the date of issuance. The transaction is subject to regulatory approval and all securities issued pursuant to the transaction will have a hold period of 120 days.