MBody AI Completes Name Change Following Merger and $10 Million Offering

The merger, name change and $10 million share offering consolidate MBody AI’s public-market profile and expand its capital base for deployment growth.

Rhea-AI Summary

MBody AI (MBAI) has completed its corporate name change from Check-Cap following its August 26, 2026 merger with MBody AI Corp. and a $10 million ordinary-share underwritten public offering on August 27, 2026.

The company’s Ordinary Shares continue to trade on the Nasdaq Capital Market under ticker MBAI, with a new SIC classification of 7373 (Services – Computer Integrated Systems Design) and an issued and outstanding share count of approximately 15,293,584 as of September 15, 2026. Former MBody AI Corp. stockholders received about 12,379,581 shares, representing roughly 90% of outstanding shares immediately after the merger and before the offering. The August 27 offering comprised 1,538,462 Ordinary Shares at $6.50 per share for gross proceeds of about $10.0 million.

MBody AI reports robot fleets operating across approximately 600 million square feet in large-scale hospitality environments, serving multiple Fortune 500 gaming and hospitality customers across eleven U.S. states and Canada.

Positive

• $10.0 million gross proceeds from underwritten offering at $6.50 per share
• Post-transaction market capitalization of about $99 million as of September 15, 2026
• Former MBody AI Corp. holders own about 90% of post-merger shares (aligned with operating business)
• Orchestrator-managed fleets have covered about 600 million square feet to date
• Operations across 11 U.S. states plus Canada, serving multiple Fortune 500 customers
• Offering issued only ordinary shares, with no warrants or convertibles

Negative

• Merger issued about 12,379,581 new shares, giving targets ~90% ownership post-merger
• Underwritten offering added 1,538,462 shares, increasing share count to 15,293,584
• Majority of MBody Shares are restricted and locked up for 180 days, limiting free float

News Explained

The merger is complete, but former MBody AI Corp. holders’ shares remain restricted: a majority, including all shares held by officers and directors, is locked up for 180 days and cannot be freely sold unless a resale registration or another exemption becomes available.

Market Context

At publication, MBAI was at $6.49, up 3.02% from the prior close before the announcement, providing ...

Analysis

At publication, MBAI was at $6.49, up 3.02% from the prior close before the announcement, providing the pre-news market baseline for the completed merger, name change, and offering disclosure.

Key Figures

Gross Proceeds: $10.0 million Offering Shares: 1,538,462 ordinary shares Offering Price: $6.50 per share +5 more

Gross Proceeds

$10.0 million

August 27, 2026 underwritten public offering

Offering Shares

1,538,462 ordinary shares

August 27, 2026 offering

Offering Price

$6.50 per share

August 27, 2026 offering, before underwriting discounts and commissions

Merger Consideration

12,379,581 ordinary shares

Issued to former MBody AI Corp. stockholders

Post-Merger Ownership

approximately 90%

Former MBody AI Corp. stockholders immediately before the offering

Lock-Up Period

180 days

Majority of MBody Shares from the offering prospectus

Shares Outstanding

15,293,584 ordinary shares

As of September 15, 2026

Cumulative Service Coverage

approximately 600 million square feet

Hospitality environments served by managed fleets

Key Terms

cusip, restricted securities, lock-up agreements, foreign private issuer

4 terms

cusip technical

"The CUSIP number for the Ordinary Shares is M6S83C106."

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

restricted securities regulatory

"are “restricted securities” within the meaning of Rule 144"

Restricted securities are shares or other investment instruments that come with legal or contractual limits on when and how they can be sold, like stock given to founders or bought in a private offering. Think of them as assets in a locked box that can’t be freely traded until certain conditions — such as a waiting period, company registration, or specific approvals — are met. For investors this matters because restricted securities are less liquid and can affect timing, price, and perceived value when they eventually enter the market.

lock-up agreements financial

"subject to lock-up agreements for 180 days"

A lock-up agreement is a contract that prevents company insiders—founders, employees, and early investors—from selling their shares for a set period after a public stock offering. It matters to investors because it keeps a large block of shares off the market temporarily; when the lock-up ends, those holders can sell and this increased supply can cause the stock price to fall, similar to a timed release that suddenly opens a valve.

foreign private issuer regulatory

"Filer Status: Foreign private issuer"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Nasdaq-listed embodied AI company introduces its operating platform, enterprise deployments and updated market identifiers

LAS VEGAS, Sept. 16, 2026 (GLOBE NEWSWIRE) -- MBody AI Ltd. (“MBody AI” or the “Company”) (NASDAQ: MBAI) today announced the completion of its corporate name change from Check-Cap Ltd., establishing a unified public-market identity for MBody AI following the completion of its merger with MBody AI Corp. on August 26, 2026, and a $10.0 million ordinary-share only underwritten public offering on August 27, 2026 (the “Offering”). The Company’s ordinary shares, par value NIS 48.00 per share (“Ordinary Shares”), continue to be listed on The Nasdaq Capital Market (“Nasdaq”) under the symbol “MBAI.” The CUSIP number for the Ordinary Shares is M6S83C106.

MBody AI is an embodied artificial intelligence company whose proprietary, hardware-agnostic software platform is designed to help autonomous systems operate and coordinate across real-world physical environments. At the center of MBody AI’s platform is the proprietary MBody AI Orchestrator, a hardware-agnostic software platform designed to serve as an intelligence layer for autonomous systems operating in real-world environments. Its deployed capabilities include AI-driven fleet analysis and optimization, task verification and unified reporting. MBody AI delivers the platform as an AI-driven enterprise solution combining third-party robotic equipment, the MBody AI Orchestrator software, maintenance and ongoing support under multi-year arrangements.

Fleets managed by the MBody AI Orchestrator have cumulatively delivered service across approximately 600 million square feet of large-scale hospitality environments, with a recently announced expansion into outdoor operations through a pilot deployment with a Fortune 500 gaming operator. The Company serves multiple Fortune 500 gaming and hospitality operators and recently announced Mohegan Sun as a customer. The Company operates robot fleets across eleven U.S. states, up from nine in June 2026. The Company is also operating a robot fleet in Canada.

“Completing the merger, offering and name change gives investors a clear public-market identity for MBody AI,” said John Fowler, Chief Executive Officer. “We built MBody AI in live operating environments. Our technology is deployed with Fortune 500 gaming operators, and proven over the past year and approximately 600 million square feet of cumulative operations. Over the past few months, our team has executed to continue expand our U.S. footprint. The capital from our offering will support customer deployments and the continued development of the MBody AI Orchestrator.”

Following the closing of the Merger, the Company’s Standard Industrial Classification has been changed to 7373 (Services – Computer Integrated Systems Design).

Key identifiers:

• Legal Name: MBody AI Ltd.
• Ticker: MBAI
• Exchange: Nasdaq Capital Market
• Issued and Outstanding Share Count: approximately 15,293,584 (as of September 15, 2026)
• CUSIP: M6S83C106
• ISIN: IL0011336851
• Commission File Number: 001-36848
• CIK: 0001610590
• SIC Code: 7373 (Services — Computer Integrated Systems Design)
• Transfer Agent: Equiniti Trust Company, LLC
• Former Legal Name: Check-Cap Ltd. (through August 26, 2026)
• Security Type: Ordinary Shares, par value NIS 48.00
• Filer Status: Foreign private issuer
• Reverse Share Split: 1-for-7, effective August 13, 2026

Merger with MBody AI Corp.

The Company, MBody AI Corp., a Nevada corporation, and CC Merger Sub Inc., a wholly-owned subsidiary of the Company (“Merger Sub”), entered into an Agreement and Plan of Merger dated as of September 12, 2025 (the “Merger Agreement”) providing for the merger of Merger Sub with and into MBody AI Corp. (the “Merger”). On August 26, 2026, pursuant to the Merger Agreement, Merger Sub merged with and into MBody AI Corp., with MBody AI Corp. surviving as a wholly owned subsidiary of the Company. Former stockholders of MBody AI Corp. received an aggregate of approximately 12,379,581 Ordinary Shares (the “MBody Shares”), representing approximately 90% of the Company’s outstanding Ordinary Shares immediately following the completion of the Merger and before the closing of the Offering. MBody Shares were issued in a transaction exempt from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and are “restricted securities” within the meaning of Rule 144 under the Securities Act. The MBody Shares may not be offered or sold in the United States absent registration under the Securities Act or an available exemption from registration, and will not be freely tradable unless and until a registration statement covering their resale has been declared effective or an exemption from registration, including Rule 144, becomes available to the holder. A majority of the MBody Shares are subject to lock-up agreements for 180 days from the date of the final prospectus in connection with the Offering, including all MBody Shares held by officers and directors. 

Underwritten Offering

On August 27, 2026, following the completion of the Merger, the Company completed a firm-commitment underwritten public offering of 1,538,462 Ordinary Shares at a public offering price of $6.50 per share, before underwriting discounts and commissions, for gross proceeds of approximately $10.0 million. The Offering consisted of Ordinary Shares only and no warrants, preferred shares, or convertible securities were issued.

As of the date of this press release, there were 15,293,584 Ordinary Shares of the Company issued and outstanding. As of the close of business on September 15, 2026, the market capitalization of the Company was approximately $99 million.

Learn more about MBody AI’s growth trajectory at ir.mbody.ai

About MBody AI Ltd.

MBody AI Ltd. (NASDAQ: MBAI) develops enterprise software that deploys and manages autonomous robot workforces for hospitality and gaming operators. The Company’s proprietary MBody AI Orchestrator is a hardware-agnostic software platform that manages diverse robot fleets from multiple vendors across sites and use cases under long-term agreements. MBody AI counts Fortune 500 operators among its customers.

No Offer

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and shall not constitute an offer, solicitation, or sale in any state, province, territory, or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the requested change to the Company’s industry classification, the anticipated use of proceeds from the Offering, the continued development of the MBody AI Orchestrator and the rollout of multi-brand fleet control, customer deployments and expansion, the expiry of lock-up agreements, continued Nasdaq listing compliance, maintenance of foreign private issuer status, customer concentration, and future capital needs and dilution. Forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including the risks described under "Risk Factors" in the Company’s most recent Annual Report on Form 20-F and subsequent Reports on Form 6-K. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Investor Relations Contact and Media Contact

Investor Relations:
Lytham Partners, LLC
602-889-9700
ir@mbody.ai

Media Contact:
Core IR
ir@mbody.ai

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are MBody AI’s updated market identifiers after the merger and name change?

MBody AI’s key identifiers include: legal name MBody AI Ltd., ticker MBAI on the Nasdaq Capital Market, CUSIP M6S83C106, ISIN IL0011336851, Commission File Number 001-36848, CIK 0001610590, SIC code 7373, and Equiniti Trust Company, LLC as transfer agent.

How was the merger with MBody AI Corp. structured and what did its shareholders receive?

Under the September 12, 2025 Merger Agreement, CC Merger Sub merged into MBody AI Corp. on August 26, 2026, with MBody AI Corp. surviving as a wholly owned subsidiary. Former MBody AI Corp. stockholders received an aggregate of approximately 12,379,581 Ordinary Shares, representing about 90% of outstanding Ordinary Shares immediately after the merger and before the offering.

Are the shares issued to former MBody AI Corp. stockholders freely tradable?

The MBody Shares were issued in a transaction exempt from registration under the U.S. Securities Act and are considered restricted securities. They may not be offered or sold in the United States without registration or an available exemption. A majority of these shares, including all held by officers and directors, are subject to 180-day lock-up agreements from the date of the final prospectus for the offering.

What were the detailed terms of MBody AI’s August 27, 2026 underwritten offering?

On August 27, 2026, the company completed a firm-commitment underwritten public offering of 1,538,462 Ordinary Shares at a public offering price of $6.50 per share, before underwriting discounts and commissions, for gross proceeds of approximately $10.0 million. The offering included Ordinary Shares only, with no warrants, preferred shares, or convertible securities.

How does MBody AI describe the intended use of capital from the offering?

The company’s chief executive officer said that the capital from the offering will support customer deployments and the continued development of the MBody AI Orchestrator platform.

What operational footprint and customer base does MBody AI report today?

MBody AI reports that fleets managed by its Orchestrator have cumulatively delivered services across approximately 600 million square feet of large-scale hospitality environments. It operates robot fleets in eleven U.S. states and Canada, serving multiple Fortune 500 gaming and hospitality operators, and recently announced Mohegan Sun as a customer.

What recent corporate actions affected MBody AI’s capital structure before this announcement?

The company discloses that its security type is Ordinary Shares with par value NIS 48.00 and that a 1-for-7 reverse share split became effective on August 13, 2026, prior to the merger and offering described.