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.

Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for the offering.

The warrants will have an exercise price of $1.55 per ADS and will be exercisable at any time upon issuance and will expire five (5) years from the initial exercise date.

The gross proceeds from the offering (without taking into account any proceeds from any future exercises of warrants issued in the concurrent private placement), before deducting the placement agent's fees and other estimated offering expenses payable by the Company, are expected to be $2.95 million. Mobilicom intends to use the net proceeds for working capital and general corporate purposes.

The ADSs and the ADSs equivalents (but not the warrants or the ADSs underlying the warrants) are being offered by Mobilicom pursuant to a "shelf" registration statement on Form F-3 (File No. 333-274929) originally filed with the U.S. Securities and Exchange Commission (the "SEC") on October 10, 2023 and declared effective by the SEC on October 23, 2023. The offering of the ADSs and the ADSs equivalents is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the ADSs and the ADSs equivalents being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting Ladenburg Thalmann & Co. Inc., Attention: Syndicate Department, 277 Park Avenue, 26th Floor, New York, New York 10172 or by calling 1-800-573-2541.