Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) (“Ekso” or “Ekso
Bionics”), an industry leader in exoskeleton technology for medical
and industrial use, today announced the commencement of its
previously announced rights offering of common shares.
Ekso plans to raise gross proceeds of up to
$34.0 million through the rights offering of up to 34,000,000
shares of common stock, at a subscription price of $1.00 per share.
Holders of its common stock and certain warrant holders as of
the record date of August 10, 2017 are eligible to participate in
the rights offering.
Key Information Pertaining to the Rights
Offering: |
– Deadline to Participate: |
• August 31, 2017, 5:00pm ET, unless extended. |
– Contact: |
• For questions, please contact VStock Transfer, LLC at
212-828-8436 or Katalyst Securities LLC at 212-400-6993. |
– Additional Information: |
• A prospectus has been filed with the SEC and is viewable
by clicking here. Additionally, an offering subscription
package, which includes a copy of the prospectus and other
additional materials related to the rights offering, is being
mailed to eligible shareholders and certain warrant holders as of
the record date. |
Ekso has distributed, at no charge, to each
holder of shares of common stock and certain holders of warrants
issued by the company as of the record date, one subscription right
for each share of common stock owned, or issuable upon exercise of
the warrants, on the record date. The deadline for participating in
the rights offering is 5:00 p.m., Eastern Daylight Time, on August
31, 2017, unless the rights offering is extended.
Each holder of subscription rights will have a
basic subscription right to purchase 1.1608 shares of common stock
at a subscription price of $1.00 per share. The proposed
rights offering will also include an over-subscription right, which
will entitle a rights holder who exercises all of its basic
subscription right in full the opportunity to purchase additional
shares of common stock up to the amount of its basic subscription
right, subject to the availability and pro rata allocation of
shares among rights holders exercising their over-subscription
right.
Rights holders are required to submit payment in
full for all of the common shares they wish to buy, pursuant to the
exercise of the subscription right to the subscription agent prior
to the expiration of the rights offering. Ekso is not
requiring a minimum individual or overall subscription to complete
the rights offering.
Ekso has engaged VStock Transfer, LLC to serve
as the subscription agent for the rights offering and has engaged
VStock Transfer, LLC and Katalyst Securities LLC as information
agents for the rights offering. Questions regarding the rights
offering may be directed to VStock Transfer, LLC at 212-828-8436 or
Katalyst Securities LLC at 212-400-6993.
Puissance Capital Management (“Puissance”),
pursuant to a purchase agreement entered into between Puissance and
the company, has committed to purchase, at the subscription price
of $1.00 per share, any unsubscribed shares of common stock
following exercise of the basic subscription right, provided that
the number of shares purchased by Puissance is subject to a cap
such that Puissance will not own more than 40% of the company’s
outstanding shares of common stock following the proposed rights
offering.
Ekso intends to use the net proceeds from the
proposed rights offering (i) to continue with clinical, sales and
marketing initiatives to accelerate adoption of Ekso in the
rehabilitation market and broaden the Ekso footprint into Asia,
(ii) to support research, development and commercialization
activities with respect to an Ekso robotic exoskeleton for home
use, and/or (iii) in the development and commercialization of
able-bodied exoskeletons for industrial use, and for working
capital and other general corporate purposes.
Ekso has commenced mailing an offering
subscription package, including a copy of the prospectus and other
additional materials related to the rights offering, to the holders
of its common stock and certain warrant holders as of the record
date. The rights offering is being made only by means of a
prospectus. Before you invest, you should read the prospectus
supplement, base prospectus and the registration statement (SEC
Registration No. 333-218517), including each “free writing
prospectus,” if any, and all of the documents incorporated by
reference therein and other documents Ekso has filed with the SEC
for more complete information about the company and this offering.
You may obtain these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov. Alternatively, the company will
arrange to send you the registration statement, including the
prospectus, if you request it by calling the information agent for
the offering, VStock Transfer, LLC, at 212-828-8436.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the rights or the
underlying shares of common stock nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
About Ekso Bionics®Ekso Bionics
is a leading developer of exoskeleton solutions that amplify human
potential by supporting or enhancing strength, endurance and
mobility across medical, industrial and defense applications.
Founded in 2005, the company continues to build upon its
unparalleled expertise to design some of the most cutting-edge,
innovative wearable robots available on the market. Ekso Bionics is
the only exoskeleton company to offer technologies that range from
helping those with paralysis to stand up and walk, to enhancing
human capabilities on job sites across the globe, to providing
research for the advancement of R&D projects intended to
benefit U.S. defense capabilities. The company is headquartered in
the Bay Area and is listed on the Nasdaq Capital Market under the
symbol EKSO. For more information, visit: www.eksobionics.com.
Forward-Looking StatementsAny
statements contained in this press release that do not describe
historical facts may constitute forward-looking statements.
Forward-looking statements may include, without limitation,
statements regarding (i) the ability to manage successfully and
complete the rights offering, (ii) the expected proceeds of the
offering, (iii) the anticipated use of proceeds from the offering,
if successful, and (iv) the assumptions underlying or relating to
any statement described in points (i), (ii) or (iii) above. Such
forward-looking statements are not meant to predict or guarantee
actual results, performance, events or circumstances and may not be
realized because they are based upon the Company's current
projections, plans, objectives, beliefs, expectations, estimates
and assumptions and are subject to a number of risks and
uncertainties and other influences, many of which the Company has
no control over. Actual results and the timing of certain events
and circumstances may differ materially from those described by the
forward-looking statements as a result of these risks and
uncertainties. Factors that may influence or contribute to the
inaccuracy of the forward-looking statements or cause actual
results to differ materially from expected or desired results may
include, without limitation, the Company's inability to obtain
adequate financing to fund the Company's operations and necessary
to develop or enhance our technology, the significant length of
time and resources associated with the development of the Company's
products, the Company's failure to achieve broad market acceptance
of the Company's products, the failure of our sales and marketing
organization or partners to market our products effectively,
adverse results in future clinical studies of the Company's medical
device products, the failure to obtain or maintain patent
protection for the Company's technology, failure to obtain or
maintain regulatory approval to market the Company's medical
devices, lack of product diversification, existing or increased
competition, and the Company's failure to implement the Company's
business plans or strategies. These and other factors are
identified and described in more detail in the Company's filings
with the SEC. To learn more about Ekso Bionics please visit us at
www.eksobionics.com. The Company does not undertake to update these
forward-looking statements.
Investor Contact:
Matthew Ventimiglia
212-599-1265
investors@eksobionics.com
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Apr 2023 to Apr 2024