Micropolis Holding Company Announces Closing of Its Initial Public Offering

Quick Summary:

Dubai, March 10, 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 closing 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.

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 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.

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Article Details

Author / Journalist: Micropolis Holding Company

Category: Technology

Markets: ChinaFranceUnited Arab Emirates

Topics: NYSE:MCRP KYG6083M1015

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-10 @ 18:15:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 724 words

Reading Time: 5 minutes read

Sentences: 25 lines

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Copyright Owner: © GlobeNewswire

News ID: 26855056

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