The company, based in Dubai, United Arab Emirates, intends to sell 8.2 million shares for between $4 and $5 in order to raise $37 million. Micropolis Holding’s market value would be $172 million at the halfway point of the suggested range.
8.2 million shares will be made available at a price between $4 and $5. In the middle of the suggested range, the company’s market value would be $172 million.
Micropolis is a company founded in 2014 by Fareed Aljawhari. It secured a $4 million seed round last year with support from Mindrock Capital, a US-based company.
A robotics company called Micropolis specializes in creating autonomous mobile robots, or AMRs, that can drive themselves and make use of electric vehicle platforms with wheels. Three primary categories comprise the company’s product offerings: autonomous maintenance robots (AMRs); operating software, encompassing fleet mission planners, user-specific software development services, and autonomous driving software; and electronic control units and power storage units.
Due to the collaborative nature of the majority of its current projects, Micropolis is currently pre-revenue. It does not expect to generate significant revenue until it enters commercial production, which is anticipated to occur by the end of 2024. Founded in 2014, Micropolis Holding intends to go public on the New York Stock Exchange (NYSE), though it hasn’t decided on a ticker yet (RC ticker: MCRO.RC). On October 16, 2023, the company filed a confidential report. In this transaction, Network 1 Financial Securities is the only bookrunner.
