Arbe Robotics Announces $16 Million Registered Direct Offering to Enhance Working Capital and General Corporate Purposes.

Arbe Robotics has priced an underwritten offering of 11.5 million ordinary shares at $1.40 per share, raising approximately $16.1 million. The offering is expected to close on January 27, 2023, and the net proceeds will be used for working capital and general corporate purposes. Canaccord Genuity is the sole bookrunner, with Roth Capital Partners and WestPark Capital as co-managers. The securities are being offered pursuant to a registration statement on Form F-3.