Arbe Robotics prices 11.5M shares at $1.40 in registered direct offering

Arbe Robotics (ARBE) priced an underwritten offering of 11,500,000 ordinary shares at a purchase price of $1.40 per share. Arbe estimates the gross proceeds from this offering to be approximately $16.1M before deducting underwriting discounts and commissions and other offering expenses. Arbe expects to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 ordinary shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 27, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. Canaccord Genuity is acting as sole bookrunner for the offering. Roth Capital Partners and WestPark Capital are acting as co-managers for the offering.