Arbe Announces Proposed Extension of Convertible Debenture Milestones

Core Viewpoint - Arbe Robotics Ltd. is proposing to extend the deadline for meeting conditions under its series A convertible bonds to December 31, 2026, to avoid early redemption of unconverted bonds [1][2]. Group 1: Bondholder Meeting and Terms - A bondholder meeting is scheduled for December 16, 2025, to vote on the proposed extension and updated terms, which include reducing the interest rate from 6.5% to 4.35% effective January 1, 2026 [2]. - The conversion price for the bonds remains at ILS 9.53 (approximately $2.95) per share, and the company is considering issuing additional bonds to increase the total principal amount to up to $20 million from the current $8.5 million [2]. Group 2: Conditions for Fund Release - The release of funds from the trustee is contingent upon three conditions, which include securing a strategic program award with a European OEM, maintaining a share price of at least $3.10 for 30 consecutive trading days, and achieving a minimum trading volume of 300,000 shares per day [3][6]. - The decision to seek an extension is influenced by recent developments that have led Arbe to not expect securing the potential strategic program award in the near future [3]. Group 3: Company Overview - Arbe Robotics is a leader in ultra-high-resolution radar solutions, providing technology that enhances safety in driving systems and supports advancements from ADAS to full vehicle autonomy [4]. - The company’s radar chipset offers up to 100 times more detail than traditional radar systems, enabling real-time, 4-dimensional imaging for various vehicle segments and safety applications [4].