Arbe Robotics Closes $15 Million Share and Warrant Offering
Published
Arbe Robotics said it closed an underwritten public offering with about $15 million in gross proceeds before underwriting discounts and expenses. The Israeli radar company sold 833,334 ordinary shares at $0.60 each and pre-funded warrants to buy up to 24,166,666 ordinary shares at $0.5999 per warrant. Each warrant has a $0.0001 exercise price. AWM Investment Company participated, and Canaccord Genuity served as sole bookrunner. Arbe said it expects to use the net proceeds for working capital and general corporate purposes, including efforts to scale its radar technology.