MBOT - Microbot Medical announces $2.7M direct offering of common stock at $2.20 per share

2023-05-23 16:01:09 ET

• Microbot Medical ( NASDAQ: MBOT ) announced a registered direct offering of 1.2M shares of common stock at a purchase price of $2.20 per share.
• The offering, conducted at-the-market under Nasdaq rules, is expected to generate gross proceeds of $2.7M.
• H.C. Wainwright & Co. is the exclusive placement agent for the offering.
• The closing of the offering is anticipated to occur around May 25.
• The net proceeds will be utilized for the development, commercialization, and regulatory activities of Microbot Medical's LIBERTY Robotic System, expansion of additional applications from the company's IP portfolio, and for general corporate purposes.
• Microbot Medical on Monday had also announced a $1.4M registered direct offering of common stock priced at-the-market.
• The company said it had entered into agreements for the purchase and sale of about 655.6K of its shares at a purchase price of $2.20/share.

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