Advanced Human Imaging, which provides software that measures human body dimensions using a smartphone, raised $11 million by offering 1 million units at $10.50, within the range of $10 to $12. Each unit consists of two ADSs and one warrant to purchase one ADS, exercisable at $5.52 per ADS. Because the offering contained warrants, Advanced Human Imaging will be excluded from Renaissance Capital's stats.
Advanced Human Imaging provides a proprietary measurement and dimensioning technology that enables a smartphone user to assess and track their body dimensions. It sells its physical measurement and analytics tool, BodyScan, as a software development kit that can be embedded within software programs and apps. The company's customers include businesses in telehealth, wellness, life and health insurance, fitness, and consumer and apparel.
Advanced Human Imaging plans to list on the Nasdaq under the symbol AHI. Maxim Group LLC acted as sole bookrunner on the deal.
