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Microbot Medical to raise $10M in common stock offering

Microbot Medical Inc. agreed to sell 3,750,000 common shares to three of its investors for gross proceeds of about $10.1 million in a registered direct offering.

The offering is expected to close by June 8, subject to customary closing conditions.

Microbot Medical intends to use the proceeds to expand and leverage its ViRob and TipCAT technology platforms, for potential strategic partnerships and acquisition of assets, products or entities, and for general corporate and working capital purposes.

Ladenburg Thalmann & Co. Inc. is acting as the lead placement agent for the offering, with Chardan Capital Markets LLC acting as the co-placement agent.