Arbe Robotics Sets Price for $29 Million Stock Offering By Investing.com

TEL AVIV – ARBE Robotics Ltd. (NASDAQ, TASE: NASDAQ: ), a company specializing in Perception Radar Solutions, announced the price of its underwritten common stock. The price is $3.20 per share, and the company expects to raise total revenue of about $29 million before deducting discounts, commissions and other expenses. As he says Invest Pro According to the data, the stock has shown a remarkable recovery with a 115% return in the past week, although the current analysis shows that the stock is trading above its peak value.

The offering consists of 8,984,375 shares of common stock, with an additional option for the underwriters to purchase up to 1,347,656 shares within a 30-day period, exclusive of discounts and commissions in the public offering. This option is part of the company’s strategy to increase its offering revenue. The offering is expected to close on or about January 8, 2025, subject to the satisfaction of customary closing conditions.

Arbey intends to use the net proceeds from this offering for working capital and general corporate purposes. Canaccord Genuity is serving as sole bookrunner for the transaction.

The shares will be offered in a shelf registration statement on Form F-3, first filed on January 13, 2023, and a final prospectus supplement and accompanying prospectus, which will detail the terms of the offering, filed with the Securities and Exchange Commission (SEC) on February 24, 2023. Enters and SEC It will be accessible on the website.

Arbe Robotics is recognized as a leader in radar technology, including its detailed Perception Radar, which is critical to advanced driver assistance systems and the development of fully autonomous driving. The company’s technology aims to improve the safety features of vehicles in various sectors, including automotive, commercial and industrial applications. At the current market capitalization of 389 million dollars Invest Pro Subscribers can access 12 additional key insights into Arbey’s financial health, valuation metrics and growth prospects via Pro Research’s report.

This announcement of the stock offering is based on a press release and does not constitute an offer to sell or an offer to sell in any jurisdiction where such offer is illegal. As stated by Arbe Robotics Limited, the information provided herein is strictly confidential.

In other recent news, Arbe Robotics has made significant strides in its technology developments and partnerships despite facing financial difficulties. The company’s partnership with NVadi (NASDAQ:) is a major development aimed at enhancing automotive autonomous spatial mapping and AI-driven capabilities. The partnership involves integrating ARBE’s high-resolution radar with the NVIDIA DRIVE AGX in-vehicle computing platform, a move expected to revolutionize radar-based free space mapping and safety applications.

Arbe Robotics’ Q3 2024 financial results, however, saw revenue fall to $100,000 from $500,000 in Q3 2023. The operating loss increased to $12.4 million from $11.6 million. To strengthen its financial position, the company completed a public offering of 49 million dollars. Despite these challenges, Arbe Robotics is working with 16 OEMs, 12 of which are at a high level of collaboration.

The company’s radar technology with AI-powered processing and high-resolution point clouds will be on display at CES 2025. and self-driving capabilities. These are among the latest developments for Arbe Robotics.

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