Arbe Robotics Closes Public Offering of 13.225 Million Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
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Arbe Robotics announced the closing of its previously announced public offering of an aggregate of 13,225,000 ordinary shares, which includes 1,725,000 ordinary shares issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $1.40 per ordinary share, resulting in gross proceeds of approximately $18.5M before deducting underwriting discounts and commissions and other offering expenses. The company intends to use the net proceeds from this offering for working capital and general corporate purposes. This deal was led by certain institutional investors, including AWM Investment Company, Inc., the investment adviser of the Special Situations Funds, which also participated in numerous of the Company's previous financings. Canaccord Genuity acted as sole bookrunner for the offering, with Roth Capital Partners and WestPark Capital acting as co-managers for the offering.
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Analyst Views on ARBE
Wall Street analysts forecast ARBE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ARBE is 2.42 USD with a low forecast of 1.75 USD and a high forecast of 3.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 1.360
Low
1.75
Averages
2.42
High
3.50
Current: 1.360
Low
1.75
Averages
2.42
High
3.50
About ARBE
Arbe Robotics Ltd is an Israel-based company. The Company develops and delivers radars for the detection of small objects, using ultra-high resolution multidimensional imaging radar technology, as a part of its business operations. Its patented imaging Synthetic-Aperture Radar (SAR) chipset, generates detailed four-dimensional radar pictures specialized for production of drones and robots, as well as automotive industry. Arbe Robotics Ltd holds industry standard patents in four dimensional (4D) radar, collaborates with automotive companies and produces various autonomous driving applications of its technology. Its modular radar sensor design supports scalable integrations across environments and different conditions, ensuring object detection by the Company's 4D imaging Synthetic-Aperture Radar picture.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Arbe Robotics Prices $16.1M Underwritten Offering of Shares
- Offering Size: Arbe Robotics has priced an underwritten offering of 11.5 million ordinary shares at $1.40 per share, aiming for gross proceeds of approximately $16.1 million, indicating a proactive approach to financing for working capital and corporate purposes.
- Underwriter Option: The underwriters have a 30-day option to purchase up to an additional 1.725 million ordinary shares at the public offering price, providing potential additional funding support that could enhance the company's financial stability.
- Closing Timeline: The offering is expected to close on or about January 27, 2025, demonstrating the company's active engagement in the capital markets and its forward-looking planning regarding future funding needs.
- Market Reaction: Following the announcement, Arbe Robotics' stock price fell by 16.7% to $0.15, reflecting market concerns about the company's financial health, which may impact investor confidence moving forward.
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