- Microbot Medical Closes Fourth Registered Direct Offering Priced At-The-Market under Nasdaq Rules
HINGHAM, Mass., June 28, 2023 (GLOBE NEWSWIRE) — Microbot Medical Inc. MBOT today announced that it closed its previously announced registered direct offering for the purchase and sale of 624,618 shares of the Company’s common stock at a purchase price of $3.25 per share of common stock priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company issued unregistered series D preferred investment options. The series D preferred investment options to purchase up to 312,309 shares of common stock have an exercise price of $3.19 per share and are immediately exercisable for a period of five and one-half years following issuance.
H.C. Wainwright & Co. is acted as the exclusive placement agent for the offerings.
The gross proceeds to the Company from the offerings were approximately $2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The aggregate gross proceeds to the Company from this offering and the registered direct offerings which closed on May 23, 2023, May 24, 2023, and June 6, 2023, in each case before deducting the placement agent’s fees and other offering expenses payable by the Company, were approximately $7.6 million. The Company intends to use the net proceeds from the offerings for the continued development, commercialization and regulatory activities for the Company’s LIBERTY® Robotic System, expansion and development of additional applications derived from the Company’s existing IP portfolio, and for working capital and other general corporate purposes.
The shares of common stock described above (but not the series D preferred investment options issued in the concurrent private placement or the shares of common stock underlying such series D preferred investment options) were offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File…
The post Microbot Medical Raises a Total of $7.6 Million in Gross Proceeds from Four Rece… – Press Release appeared first on CaymanMama.com.
from CaymanMama.com https://ift.tt/OXlE5iK
No comments:
Post a Comment