Item 7.01 Regulation FD Disclosure.
On October 1, 2021, Arbe Robotics Ltd. (“Arbe”)
issued a press release (the “Press Release”) announcing that it was named a 2021 Automotive News PACEpilot Innovation to Watch
at an online awards ceremony on September 30, 2021. This award recognizes post-pilot pre-commercial innovations in the automotive
and future mobility space.
As announced on March 18, 2021, and described
in greater detail in a Current Report on Form 8-K filed by the Company with the SEC on March 24, 2021, the Company entered into a definitive
business combination agreement, dated as of March 18, 2021 (as amended, the “Business Combination Agreement”), with Arbe,
a global leader in next-generation 4D Imaging Radar Solutions, pursuant to which, upon the terms and subject to the conditions set forth
therein, among other things, Autobot MergerSub, Inc., a Delaware corporation and wholly-owned subsidiary of Arbe, would merge with and
into the Company, with the Company surviving as a wholly-owned subsidiary of Arbe, and the holders of the Company’s Common Stock
and warrants would become holders of Arbe ordinary shares and warrants, all as set forth in the Business Combination Agreement. As disclosed
in Item 5.07 of this Current Report on Form 8-K, the Company’s stockholders approved the Business Combination Agreement and the
transactions contemplated thereby at a special meeting held on October 5, 2021 and the transactions contemplated by the Business Combination
Agreement were consummated on October 7, 2021. Following the consummation of the business combination, the ordinary shares and warrants
of Arbe are expected to begin trading on the Nasdaq Capital Market under the symbols “ARBE” and “ARBEW,” respectively,
on October 8, 2021.
A copy of the Press Release is furnished as Exhibit
99.1 to this Current Report on Form 8-K. The Press Release is intended to be furnished and shall not be deemed “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended,
or the Exchange Act, except as expressly set forth by specific reference in such filing.
Forward-Looking Statements
This report contains certain “forward-looking
statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private
Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company and Arbe and
the transactions contemplated by the Business Combination Agreement (the “Transactions”), and the parties’ perspectives
and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the Transactions,
including the anticipated initial enterprise value and post-closing equity value, the benefits of the Transactions, integration plans,
expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates
for growth, the expected management and governance of the combined company, and the expected timing of the Transactions. The words “expect,”
“believe,” “estimate,” “intend,” “plan,” “anticipate,” “project,”
“may,” “should,” “potential” and similar expressions indicate forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions
about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially
from those indicated or anticipated.
These forward-looking statements are not guarantees
of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market,
industry, regulatory and operational factors), known or unknown, which could and are likely to cause the actual results to vary materially
from those indicated or anticipated. You should carefully consider the risk factors and uncertainties described in “Risk Factors,”
“Arbe’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “ITAC’s Management’s
Discussion and Analysis of Financial Condition and Results of Operations,” “Forward-Looking Statements” and the additional
risks described in the proxy statement/prospectus dated September 17, 2021 which was filed by Arbe with the Securities and Exchange
Commission (the “SEC”) on September 20, 2021 and the Definitive Proxy Statement on Schedule 14A which was filed by the Company
with the SEC on September 17, 2021, as well as the other documents filed with the SEC by Arbe and the Company. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may, and are likely to, vary materially
from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on
these forward-looking statements.
Important Information About the Transactions
and Where to Find It
Arbe has filed the proxy statement/prospectus
and the Company has filed the definitive prospectus in connection with the Transactions involving Arbe and the Company. Stockholders of
the Company may obtain copies of the these documents, without charge, on the SEC’s website at www.sec.gov or by directing a request to
the Company by contacting E. Scott Crist, Chief Executive Officer, c/o Industrial Tech Acquisitions, Inc., 5090 Richmond Avenue, Suite
319, Houston, Texas 77056, at (713) 599-1300 or at scott@texasventures.com.
Disclaimer
This communication shall not constitute an
offer to sell or the solicitation of an offer to buy any securities pursuant to the Transactions or otherwise, nor shall there be any
sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.