Arbe Robotics Launches Public Offering to Raise $15 Million

Immediate Cash Injection with Potential for Additional Funds

TEL AVIV, ISRAEL, Nov. 01, 2024 (GLOBE NEWSWIRE) — Arbe Robotics Ltd. (NASDAQ, TASE: ARBE), a leading name in Perception Radar Solutions, has unveiled a public offering designed to raise significant funds for the company. The offering includes 8,250,000 ordinary shares or pre-funded warrants, along with Tranche A and Tranche B Warrants, all priced at $1.82 each. The collective effort could generate up to $15 million upfront, with potential additional proceeds of approximately $34 million if all long-term warrants are exercised in full.

Details of the warrants reveal that Tranche A Warrants will allow purchases at $2.35 per share, active immediately upon issuance, and set to expire on November 4, 2029. In contrast, Tranche B Warrants carry an exercise price of $1.82, also immediately exercisable, with a more complex expiration condition that could extend to November 4, 2027.

The closing date for this offering is anticipated around November 4, 2024, subject to standard closing conditions.

Canaccord Genuity is the lead bookrunner for the offering, supported by Roth Capital Partners as co-manager.

Expected Financial Impact and Utilization of Proceeds

The gross proceeds are estimated at around $15 million prior to any fees or expenses. If the Tranche A and B Warrants are fully cash-exercised, additional funds of approximately $34.4 million could come into play. However, it is important to note that there is no guarantee that these warrants will be exercised. Arbe plans to utilize the net proceeds primarily for working capital and general operational purposes.

Regulatory Compliance and Securities Offering

This security offering is made under a registration statement on Form F-3 (File No. 333-269235), which was initially filed on January 13, 2023, and became effective on February 24, 2023. Interested investors can find the preliminary prospectus supplement and accompanying documents available on the SEC website at www.sec.gov.

This announcement does not serve as an offer or solicitation for the sale of these securities, nor will there be any sale in jurisdictions where such offers are unlawful.

About Arbe Robotics, Ltd.

Arbe Robotics, with its ticker symbol ARBE, is making a significant impact in the field of Perception Radar solutions. Their technology boasts radar capabilities that are 100 times more precise than competitors, crucial for enhancing autonomous driving systems. Based in Tel Aviv, Israel, Arbe has expanded its operations to countries including China, Germany, and the United States.

Forward-Looking Statements

This release contains “forward-looking statements” as defined by securities laws. Terms such as “expect,” “believe,” “intend,” and similar phrases indicate predictions about future events rooted in current expectations. These statements are subject to risks that could cause actual results to differ significantly. Factors such as geopolitical tensions, economic shifts, and changes in currency exchange values could impact results and should be considered when evaluating these projections.

Investors are cautioned not to overly depend on these forward-looking statements as they only reflect the company’s outlook at the time of this announcement. The company does not commit to updating any forward-looking statements post-publication, except as required by applicable laws.

Information from the company’s website and social media is not included in this announcement.

CONTACT:

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