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Arbe Robotics Ltd. Financial Report: Termination of ATM Program Insights

$ARBE
Form 6-K
Filed on: 2025-01-07
Source
Arbe Robotics Ltd. Financial Report: Termination of ATM Program Insights

Here are the key insights extracted from the provided section of the financial report:

  1. Company Information:
  • Name: Arbe Robotics Ltd.
  • Address: HaHashmonaim St. 107, Tel Aviv-Yafo, Israel.
  • Contact: Tel: +972-73-7969804, ext. 200.
  1. Filing Details:
  • Type: Form 6-K (Report of Foreign Private Issuer).
  • Filing Date: January 7, 2025.
  • Commission File Number: 001-40884.
  1. Sales Agreement:
  • On April 25, 2023, the Company entered into a Sales Agreement with Jefferies LLC for an "at-the-market" (ATM) offering program.
  • The aggregate gross sales proceeds from this program were initially set at up to $50 million.
  • The shares to be sold were ordinary shares with a par value of NIS 0.000216 per share.
  1. Registration Statement:
  • The shares were to be issued under a Shelf Registration Statement on Form F-3, declared effective on February 24, 2023.
  1. Changes to the ATM Program:
  • On October 31, 2024, the maximum aggregate offering amount was reduced from $50 million to $11 million.
  • On January 6, 2025, the Company terminated the ATM Program effective immediately.
  • No ordinary shares were sold under this program prior to its termination.
  1. Incorporation by Reference:
  • The information contained in this report is intended to be incorporated by reference into various registration statements, including Form F-3 and Form S-8.
  1. Signature:
  • The report was signed by Kobi Marenko, CEO of Arbe Robotics Ltd.

This report provides critical updates on the financing strategy of Arbe Robotics Ltd., particularly concerning their ATM Program, which they have now terminated without raising funds through it. The significant reduction in the offering amount and the complete termination may indicate a strategic pivot or a response to market conditions.