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Dubai, March 06, 2025 (GLOBE NEWSWIRE) -- Micropolis Holding Company (NYSE American: MCRP) (“Micropolis” or the “Company”), a robotics manufacturer based in the United Arab Emirates which specializes in developing autonomous mobile robots that utilize wheeled electric vehicle platforms and are equipped with autonomous driving capabilities, announced today the pricing of its underwritten initial public offering (the “Offering”) of 3,875,000 Ordinary Shares at a public offering price of $4.00 per share, for total gross proceeds of $15.5 million to the Company, before underwriting discounts and other offering expenses. The Ordinary Shares are expected to begin trading on the NYSE American under the ticker symbol “MCRP” on March 7, 2025. The Offering is expected to close on March 10, 2025, subject to satisfaction of customary closing conditions.
The Company has granted the Underwriters an option to purchase up to 581,250 additional Ordinary Shares within 45 days of the closing of the Offering at the public offering price, less underwriting discounts, to cover the over-allotment option, if exercised.
Micropolis intends to use the proceeds from the Offering for talent acquisition, marketing and public relations, acquisition of machinery and advanced equipment, R&D specific expenses, contracts & outsourcing, repayment of certain related party loans, as well as working capital and other general corporate purposes.
The Offering was conducted on a firm commitment basis. Network1 Financial Securities, Inc. is acting as the sole book-running manager for the Offering. Loeb & Loeb LLP acted as U.S. securities counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to Network 1 Financial Securities, Inc., in connection with the Offering.
A registration statement on Form F-1 relating to the shares being sold in the Offering was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 22, 2023; and was declared effective by the SEC on March 6, 2025. The Offering is being made only by means of a prospectus. A copy of the final prospectus relating to the Offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: Network1 Financial Securities, Inc., The Galleria, 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.