Arbe Robotics Secures $15 Million, Could Reach Up to $49 Million with Warrants

TEL AVIV, ISRAEL, Nov. 4, 2024 (GLOBE NEWSWIRE) — Arbe Robotics Ltd. (NASDAQ, TASE: ARBE), a leader in Perception Radar Solutions, has successfully completed a public offering. The deal included 8,250,000 ordinary shares (or pre-funded warrants) along with Tranche A and Tranche B Warrants, allowing the purchase of an additional 8,250,000 ordinary shares. The offering was priced at $1.82 per share (or pre-funded warrant) along with the associated Tranche A and B Warrants.

The Tranche A Warrants can be exercised at $2.35 per share, with an expiration date set for November 4, 2029. Meanwhile, the Tranche B Warrants have an exercise price of $1.82 per share and will expire either 20 trading days after the Company announces a major supply agreement with a European automotive manufacturer for a minimum of 500,000 radar chipsets or on November 4, 2027, whichever comes first.

This financing was led by various institutional investors, including AWM Investment Company, Inc., which previously participated in Arbe’s $23 million funding round. Canaccord Genuity served as the sole bookrunner for the offering, while Roth Capital Partners acted as co-manager.

The total gross proceeds from this offering were approximately $15 million before deducting underwriters’ fees and other related expenses. If all Tranche A and B Warrants are exercised, Arbe could receive an additional $34.4 million. However, it’s important to note that there is no guarantee these warrants will be exercised. The Company plans to use the proceeds for working capital and general corporate expenses.

The securities were offered under a registration statement on Form F-3 (File No. 333-269235), first filed on January 13, 2023, and declared effective by the SEC on February 24, 2023. Investors should refer to the final prospectus available on the SEC’s website at http://www.sec.gov or contact Canaccord Genuity LLC for further details.

This announcement does not constitute a solicitation or offer to sell any securities in jurisdictions where the offer would be unlawful before proper registration or qualification under relevant securities laws.

About Arbe Robotics, Ltd.

Arbe (NASDAQ, TASE: ARBE) is revolutionizing radar technology to enhance safety in driver-assist systems and lay the groundwork for fully autonomous vehicles. The company’s radar is 100 times more detailed than existing technologies, making it essential for advanced driver assistance systems (ADAS) and higher levels of autonomy. Arbe’s operations are based in Tel Aviv, Israel, with additional offices in China, Germany, and the United States.

Forward-Looking Statements

This press release contains forward-looking statements as outlined by the Securities Act of 1933 and the Securities Exchange Act of 1934. Terms like “expect,” “believe,” “estimate,” and “anticipate” indicate expectations regarding future events. However, these statements come with risks and uncertainties. Actual results may vary due to factors such as market conditions and geopolitical influences in the region, including current hostilities in Israel. As such, undue reliance on these forward-looking statements should be avoided. The company does not commit to updating any forward-looking statements made.

Content from the company’s website or external sources is not included as part of this release.

CONTACT:

Miri Segal-Scharia
msegal@ms-ir.com
917-607-8654