Arbe Robotics (ARBE) Prices $23M Share Offering at $1.95/sh

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 $23 million of its registered ordinary shares at a public offering price of $1.95 per share reflecting a 10% discount to the average closing price for the 20-day trading period ending immediately prior to execution of the definitive securities purchase agreement.

The offering is expected to close on or about June 13, 2023, subject to satisfaction of customary closing conditions.

The Special Situations Funds will invest an aggregate of $15 million, and the remaining investment amount will be provided by three existing Arbe investors, including two who are affiliated with members of Arbe's Board of Directors.

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 January 13, 2023 and declared effective on February 24, 2023. The Ordinary Shares may be offered only by means of a prospectus supplement forming a part of the effective registration statement. The prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov.

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 $23 million, and the company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, seeking to expedite its penetration into the Chinese automotive market, capitalize on recently proposed safety regulation, and strengthen Arbe's balance sheet.

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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