Arbe Robotics (ARBE) announced the pricing of a public offering of an aggregate of 8,250,000 ordinary shares accompanied by Tranche A Warrants to purchase up to 8,250,000 ordinary shares and Tranche B Warrants to purchase up to 8,250,000 ordinary shares, at a combined public offering price of $1.82 per share and accompanying Tranche A Warrant and Tranche B Warrant. The Tranche A Warrants will have an exercise price of $2.35 per share, will be immediately exercisable upon issuance and will expire on November 4, 2029. The Tranche B Warrants will have an exercise price of $1.82 per share, will be immediately exercisable upon issuance and will expire on the earlier of twenty trading days after the Company shall have publicly announced that it has entered into a definitive supply agreement with a named European automotive original equipment manufacturer, the VWAP for each trading day in any period of ten consecutive trading days within one calendar year of the date of the Definitive Agreement Announcement is equal to or exceeds $2.25, the trading volume of the ordinary shares on each trading day of the Measurement Period is at least 250,000 ordinary shares, and the ordinary shares underlying the Tranche B Warrants and any ordinary shares issuable upon the exercise of any pre-funded warrants issued upon the exercise of a Tranche B Warrants are then covered by an effective registration statement and a current prospectus which can be used for the sale or other disposition of the Saleable Shares and we have no reason to believe that such registration statement and prospectus will not continue to be available for the Saleable Shares for the next thirty trading days, and November 4, 2027. The closing of the offering is expected to occur on or about November 4, 2024, subject to the satisfaction of customary closing conditions. Canaccord Genuity is acting as the sole bookrunner for the offering. Roth Capital Partners is acting as the co-manager for the offering. The aggregate gross proceeds to the Company from this offering are expected to be approximately $15M, before deducting the placement agent’s fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the Tranche A Warrants and Tranche B Warrants, if fully exercised on a cash basis, will be approximately $34.4M. No assurance can be given that any of the Tranche A Warrants or Tranche B Warrants will be exercised. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
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