Microbot Medical to Sell Common Stock Worth $13 Million

MT Newswires Live

02/11

Microbot Medical (MBOT) said Monday it plans to sell about 6.1 million shares at $2.13 apiece in a registered direct offering and 12.2 million shares at the same price in a concurrent private placement.

The offerings are expected to close by Tuesday, the company said.

Gross proceeds from these offerings are estimated at about $13 million. The plans to use net proceeds to advance its Liberty Robotic System, explore new applications based on its intellectual properties, and support working capital and general corporate needs, it added.

Shares of the company were down over 18% in recent trading.

Price: 2.09, Change: -0.47, Percent Change: -18.24

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