S-1: Microbot Medical Files for Resale of 3.2 Million Shares Upon Exercise of Preferred Investment Options
Registration Statement
Microbot Medical is registering for the resale of up to 3.2 million shares of its common stock, issuable upon the exercise of outstanding preferred investment options held by selling stockholders.
Summary
- Microbot Medical has filed a registration statement for the potential resale of up to 3,211,671 shares of its common stock.
- These shares are issuable upon the exercise of outstanding preferred investment options held by selling stockholders.
- The company will not receive any proceeds from the sale of these shares by the selling stockholders.
- The selling stockholders may sell or dispose of the shares in various ways and at varying prices.
- The company's common stock is listed on the Nasdaq Capital Market under the ticker symbol MBOT.
- On June 7, 2024, the last reported closing price of the common stock was $1.08.
- Investing in the company's common stock involves a high degree of risk.
Sentiment
Score: 4
Explanation: The document is primarily factual and descriptive, outlining the registration for resale of common stock. The inclusion of risk factors tempers the sentiment, resulting in a neutral to slightly negative outlook.
Risks
- Investing in Microbot Medical's common stock involves a high degree of risk.
- The company's ability to continue as a going concern is subject to substantial doubt.
- Microbot Medical has incurred significant operating losses and has no revenue.
- The company will need additional funding to continue its operations.
- The success of the company depends heavily on the success of its lead product candidate, the LIBERTY Endovascular Robotic Surgical System.
- The company's operations in Israel are subject to political, economic, and military conditions.
Future Outlook
The Company currently anticipates receiving 510(k) clearance from the US Food & Drug Administration in the first half of 2025, and CE Mark approval in the second half of 2025; however, there is no assurance that these milestones will be met.
Industry Context
The document does not provide specific details about the competitive landscape or industry trends beyond mentioning that the medical device industry is very competitive and subject to significant technological and practice changes.
Stakeholder Impact
- Existing stockholders may experience dilution upon the exercise of the preferred investment options.
- The company will not receive any proceeds from the sale of shares by the selling stockholders.
Next Steps
- The selling stockholders may offer the shares under this prospectus from time to time and may elect to sell some, all or none of the shares set forth under this prospectus.
Key Dates
| Date | Description |
|---|---|
| 1988-08-02 | Company incorporated as Cellular Transplants, Inc. |
| 1992-02-14 | Name changed to CytoTherapeutics, Inc. |
| 2000-05-24 | Name changed to StemCells, Inc. |
| 2016-08-15 | Agreement and Plan of Merger and Reorganization with Microbot Medical Ltd. |
| 2016-11-28 | Merger with Microbot Medical Ltd. completed; name changed to Microbot Medical Inc. |
| 2016-11-29 | Common stock began trading on Nasdaq under the symbol MBOT |
| 2018-01-04 | Entered into agreement with CardioSert Ltd. |
| 2020-01-13 | Unveiled LIBERTY Endovascular Robotic Surgical System |
| 2020-08-17 | Concluded feasibility animal study using LIBERTY Endovascular Robotic Surgical System |
| 2021-06-10 | Entered into At-the-Market Offering Agreement with H.C. Wainwright & Co. |
| 2022-10-06 | Purchased assets of Nitiloop Ltd. |
| 2022-10-21 | Entered into Securities Purchase Agreement with institutional investor |
| 2023-05-03 | LIBERTY Endovascular Robotic Surgical System surpassed 100th catheterization during preclinical studies |
| 2023-05-15 | Board authorized core-business focus program and cost reduction plan |
| 2023-06-01 | IIA approved additional grant of approximately NIS 1.6 million |
| 2023-06-29 | Completed preclinical study with LIBERTY Endovascular Robotic Surgical System with 100% success rate |
| 2023-08-17 | Terminated agreement with CardioSert |
| 2023-10-07 | Surprise attack on Israel; declaration of Iron Swords military operation |
| 2023-10-24 | Received confirmation for commencement of process to support future CE Mark approval |
| 2023-10-25 | Series A preferred investment options issued |
| 2023-12-29 | Entered into Preferred Investment Option Exercise and Inducement Letter |
| 2024-01-01 | Reinstatement of annual compensation for independent directors and CEO |
| 2024-01-03 | Closings of transactions contemplated by the Inducement Letter occurred |
| 2024-01-26 | Entered into Settlement Agreement and Release |
| 2024-01-29 | Submitted Investigational Device Exemption (IDE) application to FDA |
| 2024-03-03 | Received notice from CardioSert that it was triggering its right to reacquire the Technology |
| 2024-06-03 | Received FDA approval to proceed with pivotal human clinical trial |
| 2024-06-03 | Entered into Securities Purchase Agreements with institutional investors |
| 2024-06-04 | Offerings closed; raised approximately $2.35 million in aggregate gross proceeds |
| 2024-06-07 | Last reported closing price of common stock on Nasdaq was $1.08 |
Keywords
common stock, preferred investment options, resale, registration statement, LIBERTY Endovascular Robotic Surgical System, Microbot Medical, MBOT
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