11:23 AM EST, 12/24/2024 (MT Newswires) -- Mobilicom ( MOB ) said Tuesday it raised about $1.2 million in gross proceeds after certain warrant holders exercised their warrants to buy 761,290 American depositary receipts.

The ADRs were issued in the company's registered direct offering in January.

"We believe the favorable market dynamics at this time for military and civilian drone and robotics indicate Mobilicom ( MOB ) will have a strong 2025," Chief Executive Oren Elkayam said.

The company's shares were up nearly 7% in recent trading.

Price: 3.88, Change: +0.25, Percent Change: +6.75