Micropolis (NYSE American: MCRP), a United Arab Emirates-based robotics manufacturer, specializes in developing autonomous mobile robots that utilize wheeled electric vehicle platforms and are equipped with autonomous driving capabilities. The company recently announced the closing of its underwritten initial public offering of 3,875,000 Ordinary Shares, each at a public offering price of $4.00, for total gross proceeds of $15.5 million. Micropolis 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. The company intends to use the proceeds from the offering for talent acquisition, marketing and public relations, acquisition of machinery and advanced equipment, research and development-specific expenses, contracts and outsourcing, repayment of certain related party loans, as well as working capital and other general corporate purposes.
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About Micropolis Holding Company
Micropolis is a robotics manufacturer founded in 2014, based in UAE with its headquarters located in Dubai Production City, Dubai, UAE. It specializes in developing AMRs that utilize wheeled EV platforms and are equipped with autonomous driving capabilities. As part of Micropolis’ product offerings, it integrates application-specific pods that serve as the primary purpose of a robot. These pods are designed to accommodate various functionalities, including surveillance cameras, road sweepers, logistics compartments, as well as collaborative robots (cobots) intended for direct human-robot interaction. For more information about Micropolis, visit www.micropolis.ai.
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