Microbot Medical raises $2.73M via warrant exercise inducement, issues new series E options

Microbot Medical Inc.

Entered inducement letter to exercise 1,685,682 preferred investment options at reduced price of $1.62/share for $2.73M gross proceeds.
New series E preferred investment options issued at $1.50/share, exercisable immediately for 5.5 years.
Net proceeds to fund LIBERTY Robotic System development, commercialization, and working capital.
H.C. Wainwright acted as exclusive placement agent; received 7.0% cash fee and 84,284 placement agent options at $2.025.
Closing expected January 3, 2024; resale registration statement to be filed within 30 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Microbot Medical Inc. entered into Inducement Letter with certain holders valued at approximately $2.73 million (effective 2023-12-29).

Action: entry
Agreement: equity purchase
Counterparty: certain holders
Value: approximately $2.73 million
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Microbot Medical Inc., a Delaware corporation (the “Company”), entered into a preferred investment option exercise inducement offer letter (the “Inducement Letter”) with certain holders (the “Holders”)

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Microbot Medical Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-000109

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