MBody AI Finalizes Merger and Name Change on Nasdaq
The company rebrands from Check-Cap Ltd. to establish a unified public identity after closing a $10 million capital raise.
MBody AI Ltd. completed its corporate name change from Check-Cap Ltd. on September 16, 2026, establishing a distinct public-market identity. The rebranding follows the August 26 merger with MBody AI Corp. and a concurrent $10.0 million underwritten public offering that closed on August 27. The company's ordinary shares continue to trade on the Nasdaq Capital Market under the ticker symbol MBAI, with a CUSIP number of M6S83C106. The Standard Industrial Classification code was updated to 7373, reflecting the firm's shift toward computer integrated systems design services.
As an embodied artificial intelligence provider, MBody AI operates a hardware-agnostic software platform known as the MBody AI Orchestrator. This intelligence layer coordinates autonomous robotic systems in physical environments, managing fleet analysis, task verification, and unified reporting. The firm delivers these capabilities as an enterprise solution that integrates third-party robotic equipment with its proprietary software, maintenance, and support services under multi-year contracts. According to GN stocks/nasdaq reports, the company serves multiple Fortune 500 gaming and hospitality operators, including recently announced client Mohegan Sun.
Capital raise supports fleet expansion
The $10.0 million capital infusion is designated to fund new customer deployments and the continued development of the Orchestrator platform. CEO John Fowler stated that the proceeds will support the company's operational growth, which has seen its U.S. footprint expand from nine states in June to eleven states by August 2026. The company also maintains an active robot fleet in Canada, broadening its geographic reach beyond the domestic market.
Operational scale reaches 600 million square feet
Fleets managed by the MBody AI Orchestrator have cumulatively serviced approximately 600 million square feet of large-scale hospitality environments. This operational track record underpins the company's recent expansion into outdoor operations. A pilot deployment with a Fortune 500 gaming operator marks the first step in extending autonomous cleaning and maintenance services beyond indoor lobby and corridor spaces. The merger structure allowed former MBody AI Corp. stockholders to receive approximately 12.4 million ordinary shares, representing about 90% of the company's outstanding shares prior to the offering.
Restrictions apply to newly issued shares
The shares issued during the merger are classified as restricted securities under Rule 144 of the U.S. Securities Act of 1933. These instruments are exempt from registration under the Securities Act but cannot be freely traded in the United States absent a valid registration statement or available exemption. This regulatory framework ensures that the capital raised and the equity distributed remain compliant with federal securities laws while the company integrates its new corporate structure and business operations.
