Arbe Robotics (ARBE) Prices $23M Share Offering at $1.95/sh
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Arbe Robotics Ltd. (Nasdaq: ARBE) ("Arbe"), a global leader in perception radar solutions, today announced that it has entered into a definitive agreement with the Special Situations Funds and certain existing shareholders to purchase
The offering is expected to close on or about
The Special Situations Funds will invest an aggregate of
The Special Situations Funds are a family of funds focused primarily on growth oriented small public companies with a concentration on the technology and life sciences industries.
The Ordinary Shares are being offered pursuant to an effective registration statement on Form F-3 (File No. 333-269235) that was filed with the U.S. Securities and Exchange Commission ("SEC") on
In conjunction with this capital raise, the Board has agreed to suspend the Company's previously announced "At the Market" stock program (ATM) for 12 months from the closing.
The gross proceeds of the offering are expected to be
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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