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Arbe Robotics Ltd. Launches $27M Offering: Key Insights from Form 6-K

$ARBE
Form 6-K
Filed on: 2025-01-08
Source
Arbe Robotics Ltd. Launches $27M Offering: Key Insights from Form 6-K

Here are the key insights extracted from the provided financial report of Arbe Robotics Ltd.:

  1. Report Type: This document is a Form 6-K, which is a report of foreign private issuers to the SEC, indicating it is related to significant corporate events or changes.
  2. Company Information:
  • Name: Arbe Robotics Ltd.
  • Location: HaHashmonaim St. 107, Tel Aviv-Yafo, Israel.
  • Commission File Number: 001-40884.
  1. Offering Details:
  • Date of Offering Announcement: January 7, 2024.
  • Type of Offering: Commenced an underwritten registered direct offering.
  • Number of Shares: 8,948,375 ordinary shares (referred to as "Firm Shares").
  • Public Offer Price: $3.20 per share.
  • Bookrunner: Canaccord Genuity acted as the sole bookrunner for the Offering.
  1. Proceeds from Offering:
  • Net Proceeds: Approximately $27 million after deducting underwriting discounts and commissions.
  • Optional Shares: The underwriters were granted a 30-day option to purchase an additional 1,347,656 shares, which was exercised in full, providing an additional $4 million in net proceeds.
  • Total Intended Use of Proceeds: For working capital and general corporate purposes.
  1. Closing Date: The Offering is expected to close on January 8, 2024.
  2. Underwriting Agreement:
  • The Company agreed to a 90-day lock-up period post-closing, during which it will not issue additional shares or convertible securities, subject to exceptions.
  • Underwriting commissions and discounts were set at 6.0% of the gross proceeds, plus $125,000 in reimbursement for expenses.
  1. Registration Statements: The shares were offered under registration statements on Form F-3 and Form F-3MEF, filed with the SEC.
  2. Signature: The document is signed by Kobi Marenko, the CEO of Arbe Robotics Ltd., on January 8, 2024.
  3. Exhibits: The report includes references to specific exhibits, such as the Underwriting Agreement and a press release related to the Offering.

This information signifies a significant capital raise for Arbe Robotics Ltd., which will support its operational and corporate strategies moving forward. The involvement of a reputable bookrunner like Canaccord Genuity may also provide positive validation of the offering's terms.