Microbot Medical Announces $2.35 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules

Medical Announces $2.35 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules

Mass., June 3, 2024 (GLOBE NEWSWIRE) - Microbot Medical Inc. (Nasdaq: MBOT) today announced that it has entered into definitive

agreements for the purchase and sale of 1,566,669 shares of the Company's common stock at a purchase price of $1.50 per share of

common stock in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement,

the Company will issue unregistered series F preferred investment options. The series F preferred investment options to purchase up to

3,133,338 shares of common stock have an exercise price of $1.50 per share and are immediately exercisable following issuance for a period

of two years thereafter. The closing of the registered direct offering and the concurrent private placement is expected to occur on or

about June 4, 2024, subject to the satisfaction of customary closing conditions.

Wainwright & Co. is acting as the exclusive placement agent for the offerings.

gross proceeds to the Company from the offerings are expected to be approximately $2.35

million, before deducting the placement agent's fees and other offering expenses payable

by the Company. The Company intends to use the net proceeds from the offerings for the continued development, commercialization

and regulatory activities for the Company's LIBERTY Robotic System, expansion and development of additional applications

derived from the Company's existing IP portfolio, and for working capital and other general corporate purposes.

shares of common stock described above (but not the series F preferred investment options issued in the concurrent private placement

or the shares of common stock underlying such series F preferred investment options) are being offered by the Company pursuant to a "shelf"

registration statement on Form S-3 (File No. 333-275634) previously filed with the Securities and Exchange Commission (the "SEC")

and declared effective by the SEC on December 4, 2023. The offering of the shares of common stock is made only by means of a prospectus,

including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying

prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement

and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright

& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 865-5711 or e-mail at placements@hcwco.com.

series F preferred investment options described above are being issued in a concurrent private placement under Section 4(a)(2) of the

Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares

of common stock underlying the series F preferred investment options, have not been registered under the Securities Act, or applicable

state securities laws. Accordingly, the series F preferred investment options and underlying shares of common stock may not be offered

or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration

requirements of the Securities Act and such applicable state securities laws.

press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale

of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration

or qualification under the securities laws of any such state or other jurisdiction.

Medical Inc. (NASDAQ: MBOT) is a pre-clinical medical device company that specializes in transformational micro-robotic technologies,

with the goals of improving clinical outcomes for patients and increasing accessibility through the natural and artificial lumens within

investigational LIBERTY Endovascular Robotic Surgical System aims to improve the way surgical robotics are being used

in endovascular procedures today, by eliminating the need for large, cumbersome, and expensive capital equipment, while reducing radiation

exposure and physician strain. The Company believes the LIBERTY Endovascular Robotic Surgical System's remote operation

has the potential to be the first system to democratize endovascular interventional procedures.

Further information about Microbot Medical is available at http://www.microbotmedical.com.

to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities

for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or

prospects expressed by management, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform

Act of 1995 and the Federal securities laws. Any statements that are not historical fact (including, but not limited to statements that

contain words such as "will," "believes," "plans," "anticipates," "expects"

and "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and

uncertainties, including, without limitation, the completion of the offerings, the satisfaction of customary closing conditions related

to the offerings, the intended use of proceeds from the offerings, market conditions, risks inherent

in the development and/or commercialization of the LIBERTY Endovascular

Robotic Surgical System, the outcome of its studies to evaluate LIBERTY

Endovascular Robotic Surgical System, uncertainty in the results of pre-clinical and clinical trials

or regulatory pathways and regulatory approvals, including whether the Company's pivotal study in humans is successful, any failure

or inability to recruit physicians and clinicians to serve as primary investigators to conduct regulatory studies which could adversely

affect or delay such studies, disruptions resulting from new and ongoing hostilities between Israel and the Palestinians and other

neighboring countries, any lingering uncertainty resulting from the COVID-19 pandemic, need and

ability to obtain future capital, and maintenance of intellectual property rights. Additional information on risks facing Microbot Medical

can be found under the heading "Risk Factors" in Microbot Medical's periodic reports filed with the Securities and

Exchange Commission (SEC), which are available on the SEC's web site at www.sec.gov. Microbot Medical disclaims any intent or obligation

to update these forward-looking statements, except as required by law.