Dubai, March 06, 2025 (GLOBE NEWSWIRE) -- Micropolis Holding Company (NYSE: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.
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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