Microbot Medical (Nasdaq:MBOT) announced today that it exercised certain investment options worth up to $92.2 million.
The Hingham, Massachusetts-based surgical robot maker said last month that investors agreed to exercise outstanding preferred investment options that could generate up to $92.2 million in gross proceeds. Investors exercised options to purchase nearly 14 million total shares of common stock to close the financing.
Microbot’s closing occurred in three tranches. The first tranche saw the exercise of preferred options to purchase more than 12 million shares of common stock, issued in June 2024, January 2025 and February 2025. At the second closing, a holder exercised certain options to purchase an aggregate of 600,000 shares of common stock. Finally, in the third tranche, a holder bought more than 1.3 million shares of common stock.
The company brought in about $25.2 million from the first closing. $1.2 million from the second and $2.8 million from the third. Additional gross proceeds from short-term investment options, if fully exercised, would reach approximately $63 million.
Microbot plans to use proceeds to continue development, commercialization and regulatory efforts for its Liberty robotic system. It may also look into potential acquisitions of complementary assets or products and the expansion and development of additional applications.
Liberty became the first FDA-cleared single-use, remotely operated robotic system for peripheral endovascular procedures last month. Microbot designed the Liberty robot to democratize endovascular interventional procedures. The company says it’s the world’s first single-use, fully disposable robotic system for those procedures.
The company previously said it expected to launch Liberty during the third quarter of 2025. Chair, CEO and President Harel Gadot said its commercial readiness strategy positions Microbot to accelerate market entry.
