Vicarious Surgical Prices $5.9M Share Offering For Corporate Funding

Vicarious Surgical Inc. is advancing its next-generation robotic surgery technology designed to improve abdominal procedures, which currently number over 5.6 million annually in the U.S., with 82% still performed via open or laparoscopic methods. The company's system offers enhanced visualization, dexterity, and strength through a single small incision, aiming to expand robotic surgery access beyond the limitations of existing systems primarily used for prostatectomy. Vicarious Surgical recently entered into a securities purchase agreement with an institutional investor to raise approximately $5.9 million through a registered direct offering and concurrent private placement, involving the sale of Class A common stock, pre-funded warrants, and warrants exercisable upon stockholder approval. The offering includes 1,150,000 shares or pre-funded warrants, and warrants to purchase an equivalent number of shares, with exercise prices around $5.10 per share. This capital raise supports ongoing development efforts as the company progresses toward design freeze and production-equivalent system builds, seeking to streamline surgical setup and reduce costs with a simpler, two-component system. The company's innovative approach aims to overcome current robotic surgery limitations by providing improved anatomical access and procedural efficiency for a broader range of abdominal surgeries.