Microbot Medical closes exercise of outstanding preferred investment options

Microbot Medical (MBOT) announced the third and final closing of its previously announced exercise of certain outstanding preferred investment options to purchase an aggregate of 13,989,115 shares of common stock. The shares of common stock issuable upon exercise of the preferred investment options are registered pursuant to the post-effective amendments on Form S-3 to registration statements on Form S-1 and registration statement on Form S-3. The closing of the offering occurred in three tranches. At the first closing, the holders exercised certain outstanding preferred investment options to purchase an aggregate of 12,064,627 shares of common stock, having exercise prices ranging from $1.50 to $2.13 per share, issued by Microbot in June 2024, January 2025 and February 2025, and in consideration for the exercise of the preferred investment options for cash, Microbot issued to such holders new unregistered short-term series J preferred investment options to purchase up to 12,064,627 shares of common stock. At the second closing, a holder exercised certain outstanding preferred investment options to purchase an aggregate of 600,000 shares of common stock, having an exercise price of $2.10 per share, issued by Microbot in January 2025, and in consideration for the exercise of the preferred investment options for cash, Microbot issued to such holder new unregistered short-term series J preferred investment options to purchase up to 600,000 shares of common stock. At the third and final closing, a holder exercised certain outstanding preferred investment options to purchase an aggregate of 1,324,488 shares of common stock, having an exercise price of $2.10 per share, issued by Microbot in January 2025, and in consideration for the exercise of the preferred investment options for cash, Microbot issued to such holder new unregistered short-term series J preferred investment options to purchase up to 1,324,488 shares of common stock. The new short-term series J preferred investment options will have an exercise price of $4.50 per share, will be exercisable beginning six months after issuance and have a term equal to two years thereafter. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.The gross proceeds to the Company were approximately $25.2 million from the first closing of the offering, approximately $1.2 million from the second closing of the offering and approximately $2.8 million from the third and final closing of the offering, in each case prior to deducting placement agent fees and offering expenses. The potential additional gross proceeds to the Company from the short-term series J preferred investment options, if fully-exercised on a cash basis, will be approximately $63 million.