Microbot Medical Inc. (NASDAQ: MBOT) saw a 6.93% drop on Thursday, extending its four-day decline due to a potential dilution from a fundraising program that could bring the company $63 million. Another offering closing on October 15 could raise an additional $4 million.
Investors reacted negatively to the fundraising program, causing share prices to fall. Microbot Medical Inc. (NASDAQ: MBOT) plans to use the proceeds for the development of its LIBERTY Robotic System, acquisitions, expansion of IP portfolio, and general corporate purposes.
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Read more at Yahoo Finance: Microbot (MBOT) Extends 4-Day Decline on $63-Million Fundraising Program