Summary by Moomoo AI
Arbe Robotics commenced an underwritten public offering on November 1, 2024, raising net proceeds of $14.1 million. The offering includes 4.29 million ordinary shares at $1.82 per share, pre-funded warrants for 3.96 million shares, and two tranches of warrants. If fully exercised, the warrants could generate additional gross proceeds of $34.4 million.The Tranche A warrants have an exercise price of $2.35 per share and expire in 2029, while Tranche B warrants are priced at $1.82 and expire in 2027 or upon specific triggering events. Canaccord Genuity acted as sole bookrunner with Roth Capital Partners as co-manager.The company plans to use proceeds for working capital and general corporate purposes. Directors and officers entered 90-day lock-up agreements following the November 4 closing. The underwriting agreement includes a 6% commission on the offering proceeds and warrant exercises.
