Filed pursuant to Rule 424(b)(3)
SEC File No. 333-264306

 

PROSPECTUS SUPPLEMENT NO. 1
(to Prospectus dated September 13, 2022)

 

 

 

PRIMARY OFFERING OF
15,747,677 ORDINARY SHARES

 

SECONDARY OFFERING OF
9,200,947 ORDINARY SHARES,

 

ALPHA TAU MEDICAL LTD.

 

This prospectus supplement updates, amends and supplements the prospectus contained in our Post-Effective Amendment No. 1 to our Registration Statement on Form F-1, effective as of September 13, 2022 (as supplemented or amended from time to time, the “Prospectus”) (Registration No. 333-264306). Capitalized terms used in this prospectus supplement and not otherwise defined herein have the meanings specified in the Prospectus.

 

This prospectus supplement is being filed to update, amend and supplement the information included in the Prospectus with information on Alpha Tau’s third quarter 2022 financial results, which is set forth below.

 

This prospectus supplement is not complete without the Prospectus. This prospectus supplement should be read in conjunction with the Prospectus, which is to be delivered with this prospectus supplement, and is qualified by reference thereto, except to the extent that the information in this prospectus supplement updates or supersedes the information contained in the Prospectus. Please keep this prospectus supplement with your Prospectus for future reference.

 

Our ordinary shares and warrants are listed on the Nasdaq Stock Market LLC under the trading symbols “DRTS” and “DRTSW,” respectively. On November 18, 2022, the closing prices for our ordinary shares and warrants on the Nasdaq Stock Market LLC were $3.98 per ordinary share and $0.25 per warrant. 

 

Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 10 of the Prospectus and other risk factors contained in the documents incorporated by reference therein for a discussion of information that should be considered in connection with an investment in our securities.

 

Neither the Securities and Exchange Commission, the Israeli Securities Authority nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense. 

 

The date of this prospectus supplement is November 22, 2022. 

 

 

 

 

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

 

   September 30,   December 31, 
   2022   2021 
   Unaudited   Audited 
ASSETS          
           
CURRENT ASSETS:          
Cash and cash equivalents  $5,930   $23,236 
Restricted cash   792    618 
Short-term deposits   101,735    8,080 
Prepaid expenses and other receivables   2,869    707 
           
Total current assets   111,326    32,641 
           
LONG-TERM ASSETS:          
Long term prepaid expenses   393    2,028 
Property and equipment, net   7,647    7,546 
           
Total long-term assets   8,040    9,574 
           
Total assets  $119,366   $42,215 

 

 

 

 

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands (except share and per share data)

 

   September 30,   December 31, 
   2022   2021 
   Unaudited   Audited 
LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' DEFICIENCY          
           
CURRENT LIABILITIES:          
Trade payables  $1,310   $1,203 
Other payables and accrued expenses   2,043    3,202 
           
Total current liabilities   3,353    4,405 
           
LONG-TERM LIABILITIES:          
Warrants liability   8,757    - 
Warrants to Convertible Preferred shares   -    18,623 
           
Total liabilities   12,110    23,028 
           
Convertible preferred shares of no-par value per share –
Authorized: 0 and 25,348,176 shares as of September 30, 2022 and December 31, 2021, respectively; Issued and outstanding: 0 and 13,739,186 shares as of September 30, 2022 and December 31, 2021, respectively
   -    53,964 
           
SHAREHOLDERS' DEFICIENCY:          
Ordinary shares of no-par value per share –
Authorized: 362,116,800 and 72,423,360 shares as of September 30, 2022 and December 31, 2021, respectively; Issued and outstanding : 69,011,550 and 40,528,913 shares as of September 30, 2022 and December 31, 2021, respectively
   -    - 
Additional paid-in capital   190,462    18,063 
Accumulated deficit   (83,206)   (52,840)
           
Total shareholders' equity (deficiency)   107,256    (34,777)
           
Total liabilities, Convertible Preferred shares and shareholders' equity (deficiency)  $119,366   $42,215 

 

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands (except share and per share data)

 

   Three months ended
September 30,
   Nine months ended
September 30,
 
   2022   2021   2022   2021 
                 
   Unaudited 
Research and development, net  $4,827   $3,032   $15,510   $8,218 
                     
Marketing expenses   248    102    577    356 
                     
General and administrative   2,283    500    8,064    1,273 
                     
Total operating loss   7,358    3,634    24,151    9,847 
                     
Financial (income) expenses, net   (4,744)   1,168    6,198    13,622 
                     
Loss before taxes on income   2,614    4,802    30,349    23,469 
                     
Income tax expense (benefit)   9    (5)   17    21 
                     
Net loss   2,623    4,797    30,366    23,490 
                     
Net comprehensive loss  $2,623   $4,797   $30,366   $23,490 
                     
Net loss per share attributable to Ordinary shareholders, basic and diluted  $0.04   $0.12   $0.49   $0.58 
                     
Weighted-average shares used in computing net loss per share attributable to Ordinary shareholders, basic and diluted   68,798,251    40,515,336   61,654,800    40,513,766

 

 

 

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