Microbot Medical Secures $8.6 Million Through Direct Offering

Microbot Medical Successfully Closes $8.6 Million Offering

Microbot Medical Inc. (NASDAQ: MBOT) has successfully completed its registered direct offering, garnering significant attention in the market. The company has priced the offering at $2.27 per share for 3,788,550 shares of its common stock, raising approximately $8.6 million in gross proceeds. This strategic initiative will support its ongoing projects and innovations in the medical technology sector.

Details of the Offering

Concurrent Private Placement

In addition to the registered direct offering, Microbot Medical is collaborating with H.C. Wainwright & Co., which served as the exclusive placement agent. Alongside this offering, the company has also initiated a private placement involving short-term series H preferred investment options. These options enable the purchase of up to 7,577,100 additional shares at an exercise price of $2.10 per share, and they can be exercised right after issuance, remaining valid for two years.

Utilization of Proceeds

The net proceeds from this offering are earmarked for several crucial avenues, including the enhancement of the LIBERTY Robotic System development, regulatory efforts, and expanding applications derived from its existing intellectual property portfolio. Furthermore, the funds will bolster general corporate needs, ensuring Microbot Medical continues on its path to pioneering health solutions.

About Microbot Medical's Innovations

Microbot Medical is committed to enhancing patient care globally by introducing groundbreaking medical technologies. They have engaged in developing the world's first fully disposable endovascular robotic system, aimed at making advanced robotic interventions more accessible and efficient. This innovation represents a pivotal step towards revolutionizing existing treatment paradigms in the medical field.

Regulatory Environment and Market Positioning

Registration and Compliance

The shares offered during this direct offering were registered under the S-3 shelf registration statement, previously accepted by the Securities and Exchange Commission (SEC). It exemplifies the company's commitment to compliant market practices while aiming to expand its investor base and increase visibility in the public market.

Strategizing for Growth

With the current landscape of medical technology shifting towards more robotic-assisted procedures, Microbot Medical's offerings position them strategically in a competitive market. The ongoing development of the LIBERTY Robotic System underscores their focus on innovation and market readiness, essential for attracting investors and potential partnerships.

Future Outlook for Microbot Medical

As Microbot Medical looks ahead, they are poised to leverage the funds from the offering to accelerate growth and expansion in the healthcare sector. The company is determined to remain at the forefront of medical technology by investing in research and development, ensuring their solutions meet the evolving demands of healthcare providers and patients alike.

Frequently Asked Questions

What is the purpose of the $8.6 million offering?

The funds will support the development of Microbot's technologies, specifically the LIBERTY Robotic System, and general corporate expenses.

Who acted as the placement agent for the offering?

H.C. Wainwright & Co. served as the exclusive placement agent for the registered direct offering.

What are the features of the short-term series H preferred investment options?

These options allow purchase of shares at $2.10 each and are exercisable immediately for two years after issuance.

How does Microbot Medical differentiate its products?

Microbot Medical focuses on developing single-use, fully disposable robotic systems to eliminate barriers in medical procedures.

How can I learn more about Microbot Medical?

For more information, you can visit Microbot Medical's official website or contact their investor relations via email.

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