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Rodman & Renshaw, LLC Announces Pricing of U.S. Initial Public Offering for D. Medical Industries

^{Published on 2010-08-09 17:40:45 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), announced that its client D. Medical Industries Ltd., (NASDAQ:DMED - News)(TASE: DMDC) has priced a public offering of 1,500,906 of its ordinary shares at $7.00 per share. Prior to the initial public offering in the United States, the Company's ordinary shares were listed only in Israel on the Tel-Aviv Stock Exchange, or the TASE, under the symbol "DMDC". The Client's ordinary shares began trading on Thursday, August 5, 2010, on The NASDAQ Capital Market under the trading symbol "DMED".

Rodman and Renshaw as underwriter, has a 45-day option to purchase up to 225,136 ordinary shares at the initial public offering price to cover over-allotments, if any.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ:RODM - News), acted as sole book-running manager for the offering.

The offering of these securities is being made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the final prospectus relating to this offering may be obtained for free by visiting the U.S. Securities and Exchange Commission website at [ http://www.sec.gov ]. Alternatively, a copy of the final prospectus relating to this offering may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: 212-430-1710 or email: [ info@rodm.com ].

About D. Medical Industries

D. Medical is a medical device company engaged through its subsidiaries in the research, development, manufacture and sale of innovative products for diabetes treatment and drug delivery. The Company has developed durable and semi-disposable insulin pumps, which continuously infuse insulin into a patient's body, using its proprietary spring-based delivery technology. D. Medical believes that its spring-based delivery mechanism is cost-effective compared to the motor and gear train mechanisms that drive competitive insulin pumps and also allows it to incorporate certain advantageous functions and design features in its insulin pumps. D. Medical has also developed an infusion set for insulin pumps and is focusing its research and development efforts on the development of next generation insulin pumps and a device that will combine a continuous glucose monitoring system and an insulin pump on the same patch. For more information, visit [ http://www.dmedicalindustries.com ].

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

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