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Microbot Medical Announces Exercise of Outstanding Preferred Investment Options for Up to $92.2 Million in Gross Proceeds
Globenewswire· 2025-09-15 12:00
Core Viewpoint - Microbot Medical Inc. has entered into definitive agreements to exercise preferred investment options, allowing the purchase of up to 13,989,115 shares of common stock, with the offering expected to close in two tranches [1][2]. Group 1: Offering Details - The first closing of the offering is anticipated on or about September 16, 2025, involving the exercise of options for 12,064,627 shares at prices between $1.50 and $2.13 per share [2]. - The second closing is expected by October 15, 2025, for 1,924,488 shares at an exercise price of $2.10 per share [2]. - New unregistered short-term series J preferred investment options will be issued in connection with the cash exercise of these options, with an exercise price of $4.50 per share [2]. Group 2: Financial Proceeds - Gross proceeds from the first closing are projected to be approximately $25.2 million, while the second closing is expected to yield around $4 million [4]. - If fully exercised, the new short-term series J preferred investment options could generate additional gross proceeds of approximately $63 million [4]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized for the development, commercialization, and regulatory activities of the LIBERTY® Robotic System, potential acquisitions, and general corporate purposes [4]. Group 4: Company Overview - Microbot Medical Inc. is focused on transforming endovascular procedures through advanced robotic technology, with its LIBERTY® Endovascular Robotic System being a key product [8].