Microbot settles 2020 lawsuit for $2.154M; insurance covers cash portion; IDE submitted

Microbot Medical Inc.

Settlement with Empery Asset and Hudson Bay resolves 2020 lawsuit; total settlement $2.154M.
Cash portion of $1.1M paid by insurance; no impact on company's cash position or balance sheet.
Company issued 1,005,965 restricted shares (valued at ~$1.054M) to plaintiffs, with registration rights.
Filed IDE application with FDA on Jan 29, 2024, to commence pivotal clinical trial of LIBERTY system.
Plaintiffs to file stipulation discontinuing lawsuit with prejudice after receipt of settlement.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

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 Settlement Agreement and Release with Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient III, LP and Hudson Bay Master Fund Ltd. valued at $2,154,000 (effective 2024-01-26).

Action: entry
Agreement: settlement
Counterparty: Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient III, LP and Hudson Bay Master Fund Ltd.
Value: $2,154,000
Effective: 2024-01-26

Exact text from the filing

As of January 26, 2024 (the “Effective Date”), Microbot Medical Inc. (the “Company”) entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Empery Asset Master Ltd., Empery Tax Efficient, LP, Empery Tax Efficient III, LP and Hudson Bay Master Fund Ltd. (collectively, “Plaintiffs”), which resolved and settled the below referenced litigation between the Company and Plaintiffs.

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26 material agreements filed in the last 30 days. Browse all material agreements →

Microbot Medical Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-004231

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