ICTV Brands, Inc. (OTCQX: ICTV) (CSE: ITV), a digitally focused, direct response marketing and branding company specializing in the health, wellness and beauty sector, today announced that it has closed financing totaling $7 million through the sale of common stock to accredited investors at a price of $0.34 per share.
Use of proceeds will fund our two previously announced acquisitions. In January of 2017, ICTV acquired certain assets of PhotoMedex including its flagship product no!no!, along with the Kyrobak and ClearTouch brands. The trailing 12 month revenue associated with these brands as of September 30, 2016 was approximately $41.6 million, the vast majority of which came from the no!no! brand. Also part of this asset acquisition were the CoralActives brand and a portfolio of Medicated Soap Bars from Ermis Labs.
CFO Ernest P. Kollias Jr. stated, "Closing out the financing step to our transformative initiatives will allow the company to now focus on delivering significant growth in revenue, as well as synergies across the brand portfolio. ICTV has spent the past two years repositioning the company and with the consumer product portfolio, talent across our organization, and worldwide infrastructure we will drive our expansion across the globe in the years to come. Our future is exciting and we are well positioned to deliver profitable growth in 2017."
For more information on ICTV Brands product, DermaWand, or the no!no!, Kyrobak, ClearTouch, and CoralActives brands, please visit each product's respective consumer website:
- www.dermawand.com
- www.officialnono.com
- www.kyrobak.com
- www.cleartouchnails.com
- www.coralactives.com
- www.medicatedbars.com
ICTV Brands, Inc.
ICTV Brands, Inc. sells various health, wellness and beauty products through a multi-channel distribution strategy. ICTV utilizes a distinctive marketing strategy and multi-channel distribution model to develop, market and sell products through direct response television (DRTV), Internet/digital, e-commerce, international third party distributors, live television shopping and retail. Its products are sold in North America and are available in over 65 countries. Its products include DermaWand, a skin care device that reduces the appearance of fine lines and wrinkles, and helps improve skin tone and texture, DermaVital, a professional quality skin care line that effects superior hydration, the CoralActives brand of acne treatment and skin cleansing products, and Derma Brilliance, a sonic exfoliation skin care system which helps reduce visible signs of aging, Jidue, a facial massager device which helps alleviate stress, and Good Planet Super Solution, a multi-use cleaning ag ent. ICTV Brands, Inc. was founded in 1998 and is headquartered in Wayne, Pennsylvania. For more information on our current initiatives, please visit www.ictvbrands.com.
PhotoMedex, Inc.
PhotoMedex is a global skin health company providing aesthetic solutions to dermatologists, professional aestheticians and consumers. The company provides proprietary products and services that address skin diseases and conditions including acne and photo damage. Its long-held experience in the physician market provides the platform to expand its skin health solutions to spa markets, as well as traditional retail, online and direct to consumer outlets for home-use products. PhotoMedex sells home-use devices under the no!no! brand for various indications including hair removal, acne treatment and skin rejuvenation. The company also offers a professional product line for acne clearance, skin tightening, psoriasis care and hair removal sold to physician clinics and spas.
