Arbe Robotics (ARBE) announced that it has priced an underwritten offering of 8,984,375 ordinary shares at a purchase price of $3.20 per share. Arbe estimates the gross proceeds from this offering to be approximately $29M before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about January 8, 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.
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