Mobilicom Limited announced on December 24, 2024, that holders of warrants to purchase 761,290 ADRs, issued in the company’s January 2024 registered direct offering, have exercised their warrants. This resulted in aggregate gross proceeds of approximately $1.2 million.
This cash injection is expected to further fortify Mobilicom's balance sheet and extend its cash runway to at least 24 months. The company's CEO stated that H1 2024 revenues more than tripled, gross margins increased, net loss narrowed, and net cash used in operating activities halved compared to the same period in 2023.
The warrant exercises and improved financial metrics provide Mobilicom with increased liquidity to fund operations and execute its strategic plans. This financial strengthening supports the company's growth initiatives in the high-growth drone and robotics market.
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