Arbe Robotics .(US:ARBE) Globenewswire·2025-01-07 20:45Offering Details - Arbe Robotics priced an underwritten offering of 8,984,375 ordinary shares at $3.20 per share, with estimated gross proceeds of approximately $29 million before deductions [1][2] - The underwriters have a 30-day option to purchase up to an additional 1,347,656 ordinary shares at the public offering price, less discounts and commissions [2] - The offering is expected to close on or about January 8, 2025, subject to customary closing conditions [2] - Canaccord Genuity is acting as the sole bookrunner for the offering [3] Use of Proceeds - The net proceeds from the offering are intended to be used for working capital and general corporate purposes [2] Company Overview - Arbe Robotics is a global leader in Perception Radar Solutions, enabling safe driver-assist systems and paving the way for full autonomous-driving [6] - The company's radar technology is 100 times more detailed than any other radar on the market and is critical for L2+ and higher autonomy [6] - Arbe empowers automakers, Tier 1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and various safety applications with advanced sensing and perception technologies [6] - The company is based in Tel Aviv, Israel, with offices in China, Germany, and the United States [6] Regulatory Information - The securities are being offered pursuant to a registration statement on Form F-3 (File No 333-269235), originally filed on January 13, 2023, and declared effective by the SEC on February 24, 2023 [4] - The offering is made only by means of a prospectus and a prospectus supplement, which forms part of the effective registration statement [4] - Electronic copies of the final prospectus, when available, can be obtained from the SEC's website or by contacting Canaccord Genuity LLC [4]