Arbe Robotics Announces Significant Share Offering to Boost Capital

TEL AVIV, ISRAEL, Jan. 07, 2025 (GLOBE NEWSWIRE) — Arbe Robotics Ltd. (NASDAQ, TASE: ARBE) (“Arbe” or the “Company”), a global leader in Perception Radar Solutions, has announced the pricing of an underwritten offering of 8,984,375 ordinary shares at a price of $3.20 per share.

Details of the Offer

Arbe anticipates gross proceeds from this offering to be around $29 million before deductions for underwriting discounts, commissions, and other expenses involved in the offering. Additionally, Arbe plans to provide the underwriters with a 30-day option to acquire up to 1,347,656 additional ordinary shares at the same public offering price, minus the underwriting discounts and commissions. This offering is projected to close on or about January 8, 2025, pending satisfaction of standard closing conditions. The company intends to utilize the net proceeds for working capital and general corporate purposes.

Underwriting and Regulatory Details

Canaccord Genuity is serving as the sole bookrunner for the offering. The securities are being offered under a registration statement on Form F-3 (File No. 333-269235), originally filed on January 13, 2023, with the Securities and Exchange Commission (the “SEC”) and approved on February 24, 2023. A final prospectus supplement will be filed with the SEC for this offering. Interested investors can obtain electronic copies of the final prospectus on the SEC’s website at www.sec.gov or by contacting Canaccord Genuity LLC at their Boston office.

Disclaimer on the Offering

This press release does not constitute an offer or solicitation to purchase these securities, nor will there be any sale of these securities in any state or jurisdiction where such an offer would be illegal prior to the registration or qualification under the securities laws of that state or jurisdiction.

About Arbe Robotics

Arbe ARBE specializes in Perception Radar solutions, aiming to enhance safety in driver-assist systems and contributing to the development of fully autonomous vehicles. Arbe’s radar technology provides 100 times the detail compared to traditional radar systems, making it essential for vehicles equipped with Level 2+ autonomy and beyond. The company’s innovations support automakers, Tier 1 suppliers, autonomous ground transport, commercial vehicles, and various safety applications. Arbe operates out of Tel Aviv, Israel, with additional offices in China, Germany, and the United States.

Forward-Looking Statements

This press release includes “forward-looking statements” as defined in the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Terms like “expect,” “believe,” “estimate,” and “intend” often indicate forward-looking statements, which are inherently uncertain and subject to risks. These risks can include delays in the offering, market conditions affecting the offering’s reception, and various economic influences on Arbe’s business and operations. There may be unforeseen challenges, such as political tensions in Israel, which could impact Arbe’s workforce and market operations. For additional details, refer to the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC.

Information from Arbe’s website and social media channels is not included as part of this press release.

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