Microbot Medical expands authorized shares

HINGHAM, MA - Microbot Medical (TASE:BLWV) Inc. (NASDAQ:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, announced significant corporate changes following a recent stockholder vote. The company, currently valued at $94.6 million, has demonstrated strong financial discipline with a healthy balance sheet, maintaining more cash than debt according to InvestingPro data.

On Monday, the company filed an amendment to its Restated Certificate of Incorporation with the Delaware Secretary of State. This amendment, approved by stockholders at the annual meeting, increased the authorized common stock from 60 million to 120 million shares, with the total authorized shares rising from 61 million to 121 million. The preferred stock remained at 1 million shares. The move comes as MBOT’s stock has shown remarkable momentum, delivering a 155% return over the past six months, though InvestingPro analysis suggests the stock is currently fairly valued.

The stockholders’ meeting, held on the same day, saw several proposals passed. Notably, the amendment to increase the authorized common stock was approved, as was the issuance of Series I preferred investment options and placement agent options issued on February 11, 2025. These options are now exercisable until two years from the amendment’s effective date.

Additionally, the amendment to the company’s 2020 Omnibus Performance Award Plan was approved, increasing the number of authorized shares reserved for issuance by over 2.5 million. The ratification of Brightman Almagor Zohar & Co. as the company’s independent registered public accounting firm for the year ending December 31, 2025, was also confirmed.

The company’s board determined that future say-on-pay advisory votes on executive compensation would occur annually, reflecting the preference indicated by a majority of stockholder votes.

These corporate actions support Microbot Medical’s ongoing operations and strategic initiatives. The company’s business address is 175 Derby St., Bld. 27, Hingham, MA 02043, and its telephone number is (781) 875-3605.

The information provided is based on a press release statement and the latest SEC filing by Microbot Medical Inc.

In other recent news, Microbot Medical has been actively preparing for the anticipated U.S. launch of its LIBERTY Endovascular Robotic System, expected in the third quarter of 2025. The company is awaiting a decision from the FDA on its 510(k) premarket notification, which is crucial for the system’s market clearance. To support this effort, Microbot Medical has expanded its commercial team by appointing new leadership, including Michael Lytle as the head of Sales Operations & Analytics, and Allison Rosefort as Vice President of Marketing. Additionally, the company is set to be included in the Russell Microcap Index, a move that could enhance its visibility among investors. H.C. Wainwright has maintained a Buy rating on Microbot Medical, with a price target of $9, reflecting confidence in the company’s commercial strategy and potential market adoption of the LIBERTY system. Moreover, Microbot Medical has filed a Preliminary Proxy Statement for its upcoming annual stockholders’ meeting on June 10, 2025, following the inability to achieve a quorum for a previously planned special meeting. The company continues to focus on building a robust commercial infrastructure as it awaits FDA clearance and aims to capitalize on the large addressable market for its innovative robotic system.

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