- Mobilicom ( MOB ) has priced its $11.8M U.S. IPO of 2.85M units.
- Based in Israel, Mobilicom is an end-to-end provider of cybersecurity and smart solutions for drones, robotics and autonomous platforms.
- Each unit will consist of one ADS and one warrant to purchase one ADS issued at an offering price of $4.13/unit. The ADSs and warrants can only be purchased together in the offering but will be issued separately.
- The warrants are exercisable immediately at a per ADS exercise price of $5 and will expire five years from the date of issuance.
- In addition, Mobilicom has granted the underwriter a 45-day option to purchase up to an additional 362,338 ADSs and/or 362,338 warrants to purchase ADSs to cover over-allotments.
- Gross proceeds are estimated to be ~$11.8M; net proceeds of the offering will be used for expansion of sales and marketing activities, research and development, and working capital.
- The ADS and warrants are expected to begin trading on the Nasdaq Capital Market on August 25, 2022 under the symbols "MOB" and "MOBBW," respectively.
- Offering is expected to close on Aug. 29, 2022.
For further details see:
Israeli drone tech provider Mobilicom prices $11.8M U.S. IPO