Participated · Series A · Apr 2018

Vicarious Surgical Inc. has arranged a financing that combines a registered direct offering with a concurrent private placement of warrants. The company is selling 1,150,000 shares of Class A common stock (or pre-funded warrants in lieu thereof) at a combined effective price of roughly $5.10 per share, alongside warrants that allow the purchase of an additional two shares per share purchased. Gross proceeds are expected to total approximately $5.9 million before placement fees and expenses. Series A and Series B warrants, each covering up to 1,150,000 shares at an exercise price of $5.10, will become exercisable once shareholders approve their exercise and will expire five years thereafter; Series B warrants include a repurchase option at $0.01 per underlying share if certain stock-price and volume milestones are met. Lake Street Capital Markets, LLC is acting as the exclusive placement agent. Management plans to apply the funds toward general corporate aims, including working capital, capital expenditures, and R&D expenditures. No additional operating metrics or product details were provided in the announcement.