Micropolis Completes $15.5 Million IPO to Fund Robotics Expansion

Micropolis (NYSE American: MCRP), a United Arab Emirates-based robotics manufacturer, has announced the successful closing of its underwritten initial public offering of 3,875,000 Ordinary Shares at $4.00 per share, generating total gross proceeds of $15.5 million. This significant capital infusion represents a major milestone for the company's growth strategy in the competitive autonomous robotics market. The underwriters were granted an option to purchase up to 581,250 additional Ordinary Shares within 45 days of the offering's closing to cover potential over-allotments, providing additional financial flexibility.

The company has outlined specific allocation plans for the IPO proceeds, directing funds toward critical growth initiatives including talent acquisition, marketing and public relations efforts, and the acquisition of advanced machinery and equipment. A substantial portion will support research and development-specific expenses, contracts and outsourcing requirements, while also addressing the repayment of certain related party loans. The remaining funds will be allocated to working capital and other general corporate purposes, ensuring operational stability during expansion phases.

Micropolis specializes in developing autonomous mobile robots that utilize wheeled electric vehicle platforms equipped with advanced autonomous driving capabilities. The company's innovative approach integrates application-specific pods that serve as the primary functional components of their robots. These versatile pods are designed to accommodate various functionalities including surveillance cameras, road sweepers, logistics compartments, and collaborative robots intended for direct human-robot interaction. The company maintains its headquarters in Dubai Production City, UAE, and has been operating since its founding in 2014.

The successful public offering positions Micropolis to accelerate its technological development and market expansion in the rapidly evolving autonomous robotics sector. The capital raised through this offering will enable the company to enhance its product offerings and compete more effectively in global markets. For additional details about the offering, investors can review the full press release available at https://ibn.fm/guwpI. The company's corporate information and technological developments can be tracked through their official website at https://www.micropolis.ai.