Microbot Medical Announces $13 Million Registered Direct Offering

Microbot Medical Inc. (NASDAQ: MBOT) recently disclosed its entry into Securities Purchase Agreements (the “Purchase Agreements”) with various investors, as per an 8-K filing with the Securities and Exchange Commission on February 9, 2025. Under the Registered Offering, Microbot Medical Inc., a Delaware corporation, agreed to issue and sell 6,103,289 shares of its common stock at $2.13 per share, generating approximately $13.0 million in gross proceeds.

The Purchase Agreements include customary provisions, agreements, and indemnification rights for both the company and the investors. An important condition of the Purchase Agreements is that Microbot Medical has restrictions on the issuance and sale of its Common Stock or Common Stock Equivalents for a 60-day period post the Registered Offering closure.

The shares were offered through a registration statement on Form S-3, a base prospectus dated December 4, 2023, along with a prospectus supplement dated February 9, 2025. Additionally, a concurrent Private Placement involved the issuance of Series I preferred investment options to purchase up to 12,206,578 shares of Common Stock at an exercise price of $2.13 per share.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offerings, for which they will receive a commission. The plan’s closing is expected around February 11, 2025, subject to standard closing conditions.

In a separate engagement, Wainwright agreed to terms for its services related to the Offerings, for which the company is obligated to pay certain fees, issue warrants, and provide compensation to Wainwright under specific circumstances.

It is important to note that Microbot Medical emphasized the non-registration of the Wainwright Warrants and the securities serving as collateral, underscoring limited liquidity due to the absence of a trading market for the Warrants.

The financial exercise involved multiple parties and the Company’s future prospects, financial details, and obligations are outlined clearly, as shown in the drafted 8-K filing. Interested investors and stakeholders can refer to the official public document for detailed information and disclosures.

For further details on Microbot Medical Inc. and their latest developments, individuals can avail of the official company website.

For any queries regarding this financial move, interested parties can reach out to [email protected].

This news release offers a comprehensive overview of Microbot Medical’s recent financial actions, providing insights into the company’s strategic moves and financial undertakings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Microbot Medical’s 8K filing here.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.