Microbot Medical closes stock sale with $29.2M raised - The Robot Report

Microbot Medical Inc., a company specializing in advanced robotic technology for endovascular procedures, has completed the final closing of its stock option exercise, raising $29.2 million by selling 13.9 million shares of common stock. Founded in 2010 and based in Hingham, Massachusetts, Microbot offers the LIBERTY Endovascular Robotic System, a single-use, remotely operated device designed to improve precision, safety, and efficiency in neurovascular, cardiovascular, and peripheral vascular procedures. The system’s compact, single-use design enables controlled remote operation, potentially lowering procedure costs and enhancing care quality. In addition to the stock sale, Microbot announced a new patent for a modular robotic surgical system featuring a base and multiple interchangeable tool-receiver units, which could broaden LIBERTY’s applicability across various endovascular procedures. The company has issued new short-term Series J preferred investment options with an exercise price of $4.50 per share, potentially raising up to $63 million if fully exercised.