Microbot Medical Inc. (NASDAQ:MBOT), a medical device company, disclosed today that certain stockholders are poised to sell up to 1,005,965 shares of common stock. The sales will occur over time and the company itself will not be selling shares nor will it benefit financially from the transactions.
The stockholders, who are detailed in the company's prospectus, may dispose of their shares through various methods and at different prices. Specifics regarding the potential sales methods are outlined in the section titled "Plan of Distribution" within the prospectus, starting on page 65.
The costs associated with these transactions, such as brokerage fees and commissions, will be the responsibility of the selling shareholders. Conversely, Microbot Medical will cover all other expenses related to the registration of these shares with the Securities and Exchange Commission (SEC).
This move does not involve the engagement of underwriters or other facilitators to aid in the sale of the common stock. The company's announcement is based on a recent filing with the SEC, which provides formal documentation of the potential share disposition by the named stockholders.
Investors and market watchers will be observing the impact of this potential influx of shares on Microbot Medical's stock price in the market. The company, known for its innovations in the medical device sector, has not provided any further details on the timing or reasons behind the stockholders' decision to sell their shares.
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