The closing of the offering is expected to occur in two tranches. At the first closing, the holders exercised certain outstanding preferred investment options to purchase up to an aggregate of 12,064,627 shares of common stock, having exercise prices ranging from $1.50 to $2.13 per share, issued by Microbot in June 2024, January 2025 and February 2025, and in consideration for the exercise of the preferred investment options for cash, Microbot issued to such holders new unregistered short-term series J preferred investment options to purchase up to 12,064,627 shares of common stock. The second closing of the offering is expected to occur by no later than October 15, 2025, subject to satisfaction of customary closing conditions. At the second closing, a holder will exercise certain outstanding preferred investment options to purchase up to an aggregate of 1,924,488 shares of common stock, having an exercise price of $2.10 per share, issued by Microbot in January 2025, and in consideration for the exercise of the preferred investment options for cash, Microbot will issue to such holder new unregistered short-term series J preferred investment options to purchase up to 1,924,488 shares of common stock. The new short-term series J preferred investment options will have an exercise price of $4.50 per share, will be exercisable beginning six months after issuance and have a term equal to two years thereafter.
H.C. Wainwright & Co. acted as the exclusive ...
