Arbe Robotics Ltd. announced the closing of its public offering, which is expected to provide up to $49 million in gross proceeds. The company received approximately $15 million upfront from the sale of 8,250,000 ordinary shares or pre-funded warrants, accompanied by Tranche A and Tranche B Warrants.
The offering includes potential additional gross proceeds of approximately $34.4 million if the Tranche A and Tranche B Warrants are fully exercised for cash. Tranche A Warrants have an exercise price of $2.35 per share and expire on November 4, 2029, while Tranche B Warrants have an exercise price of $1.82 per share and expire earlier of November 4, 2027, or upon a 'Triggering Event' linked to a definitive supply agreement with a European OEM.
The net proceeds from this offering are intended for working capital and general corporate purposes, supporting the company's planned production ramp-up in 2025. This capital infusion, led by existing investor AWM Investment Company, Inc. and new investors, enhances Arbe's financial resilience as it pursues its market objectives.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.