Business
Mobilicom Limited Announces Pricing of USD $11.8 Million Public Offering and Nasdaq Listing
Shoham, Israel, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) (ASX: MOB) (the “Company” or “Mobilicom”), a provider of
About this update from Mobilicom Limited
[{"type":"text","content":"Shoham, Israel, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) (ASX: MOB) (the “Company” or “Mobilicom”), a provider of cybersecurity and smart solutions for drones, robotics & autonomous platforms, today announced the pricing of an underwritten U.S. initial public offering of 2,858,000 units, each consisting of one American Depositary Share (ADS) and one warrant to purchase one ADS, at a price to the public of USD $4.13 per unit, for gross proceeds of approximately USD $11.8 million, before deducting underwriting discounts and offering expenses. The warrants will have a per ADS exercise price of USD $5.00, are exercisable immediately and expire five years from the date of issuance. The ADSs and warrants that are part of the units can only be purchased together in the offering but will be issued separately. 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, if any, at the public offering price, less the underwriting discount. The Company intends to use the net proceeds of the offering for expansion of its 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. The offering is expected to close on August 29, 2022, subject to satisfaction of customary closing conditions. ThinkEquity is acting as sole book-running manager for the offering. A registration statement on Form F-1 (File No. 333-264523) relating to the offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on August 24, 2022. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation...