HINGHAM, Mass., June 05, 2017 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq:MBOT), a medical device company
specializing in the design and development of transformational micro-robotic medical technologies, announced today that it has
entered into a securities purchase agreement with three institutional investors to purchase 3,750,000 shares of common stock
for total gross proceeds of $10.125 million, before deducting placement agent fees and offering expenses. The offering is expected
to close on or about June 8, 2017, subject to satisfaction of customary closing conditions.
The Company expects to use the resources from the financing to expand and leverage the current 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., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE
MKT:LTS), acted as the lead placement agent and Chardan acted as the co-placement agent for this transaction.
The shares are being offered by the Company pursuant to an effective “shelf” registration statement which was
initially filed with the Securities and Exchange Commission on March 31, 2017 and declared effective by the SEC on April 14, 2017.
The securities are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective
registration statement. Copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available,
can be obtained at the SEC's website at www.sec.gov or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 277 Park Avenue,
26th Floor, New York, NY 10172 or by email at prospectus@ladenburg.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities,
nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration
statement will only be by means of a prospectus.
About Microbot Medical, Inc.
Microbot was founded in 2010 and became a NASDAQ listed company on November 28, 2016. The Company specializes in
transformational micro-robotic medical technologies leveraging the natural and artificial lumens within the human body. Microbot’s
current platforms, ViRob and TipCAT, are comprised of two highly advanced micro-robotic technologies, from which the Company is
currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and
Normal Pressure Hydrocephalus, or NPH; and a self-propelling, semi-disposable endoscope that is being developed initially for use
in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com.
The ViRob technology is a revolutionary autonomous crawling micro-robot which can be controlled remotely or
within the body. Its miniature dimensions allow it to navigate and crawl in different spaces within the human body, including blood
vessels, the digestive tract and the respiratory system. Its unique structure gives it the ability to move in tight spaces and
curved passages as well as the ability to remain within the human body for prolonged time. To learn more about ViRob please visit
http://www.microbotmedical.com/technology/virob/.
TipCAT is a transformational self-propelled, flexible, and semi-disposable endoscope providing see & treat
capabilities within tubular lumens in the human body such as the colon, blood vessels, and the urinary tract. Its locomotion
mechanism is perfectly suitable to navigate and crawl through natural & artificial tubular lumens, applying the minimal necessary
pressure to achieve the adequate friction required for gentle, fast, and safe advancement within the human body. To learn more
about TipCAT visit http://www.microbotmedical.com/technology/tipcat/.
Safe Harbor
Statements pertaining 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. 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, risks inherent in the development and/or
commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to
obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results
anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect
the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s
filings with the Securities and Exchange Commission. Microbot Medical disclaims any intent or obligation to update these
forward-looking statements.
Investor Contacts: Analysts and Institutional Investors Michael Polyviou EVC Group mpolyviou@evcgroup.com 646-445-4800 Individual & Retail Investors Jeremy Roe Integra Consulting Group llc jeremy@integracg.net (925) 262-8305
