Micropolis Holding, a Dubai-based developer of autonomous mobile robots and related software, raised $16 million by offering 3.9 million shares at $4, the low end of the range of $4 to $5. The company offered 1.1 million fewer shares than anticipated. At pricing, Micropolis Holding commands a market value of $136 million.
Micropolis is a robotics manufacturer that specializes in developing autonomous mobile robots (AMRs) that utilize wheeled electric vehicle platforms and are equipped with autonomous driving capabilities. The company's product offerings are organized into three main categories: AMRs; operating software, which includes autonomous driving software, fleet mission planner, and user bespoke software development services; and electronic control units and power storage units.
Micropolis Holding plans to list on the NYSE American under the symbol MCRP. Network 1 Financial Securities acted as sole bookrunner on the deal.
