Mobilicom Announces $2.95 Million Registered Direct Offering

Shoham, Israel, Jan. 26, 2024 (GLOBE NEWSWIRE) — Mobilicom Limited (“Mobilicom” or the “Company”) (Nasdaq: MOB, MOBBW, ASX: MOB), a provider of cybersecurity and robust solutions for drones and robotics, today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of 1,903,225 of the Company’s American Depositary Shares (ADSs) (or ADS equivalents in lieu thereof), at an effective purchase price of $1.55 per ADS, in a registered direct offering. Mobilicom has also agreed to issue and sell to the investor, in a concurrent private placement, unregistered warrants to purchase up to an aggregate of 1,903,225 ADSs. Each ADS represents two hundred seventy-five (275) ordinary shares, no par value, of Mobilicom. The offering is expected to close on or about January 30, 2024, subject to satisfaction of customary closing conditions.