Business
Microbot Medical Inc. Announces Closing of $10.0 Million Registered Direct Offering of Common Stock
HINGHAM, Mass., Dec. 31, 2019 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT) closed its previously announced registered direct offering of 900,901
About this update from Microbot Medical Inc.
[{"type":"text","content":"HINGHAM, Mass., Dec. 31, 2019 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT) closed its previously announced registered direct offering of 900,901 shares of its common stock at a purchase price of $11.10 per share for total gross proceeds of approximately $10.0 million, before deducting placement agent fees and offering expenses.\n Microbot currently intends to use the net proceeds from this offering for the continuous development and regulatory activities for its SCS device for the treatment of hydrocephalus and NPH; continue the development of the Company’s LIBERTY robotic system, including its expansion through addition of complementary assets to it either through internal development, in-license or acquisitions; expand and develop additional applications deriving from its existing IP portfolio, either through internal development, in-license or acquisition; and for working capital and other general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The shares were offered by Microbot pursuant to a “shelf” registration statement on Form S-3 that was initially filed on March 31, 2017 and declared effective by the Securities and Exchange Commission (“SEC”) on April 14, 2017 and the prospectus contained therein (File No. 333-217076). The offering of shares of common stock was made only by means of a prospectus supplement that forms a part of the registration statement. Electronic copies of the final prospectus supplement and accompanying base prospectus may be obtained from the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected]. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Microbot Medical, Inc. Microbot Medical Inc. (NASDAQ: MBOT) is a pre-clinical medical device company that specializes in transformational micro-robotic technologies, focused primarily on both natural and artificial lumens within the hum...