Ekso Bionics Announces Pricing of $10 Million Public Offering
May 22 2019 - 9:14AM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company,” “Ekso”
or “Ekso Bionics”), an industry leader in exoskeleton technology
for medical and industrial use, announced today the pricing of its
previously announced underwritten public offering of 6,666,667
shares of its common stock and accompanying warrants to purchase
6,666,667 shares of its common stock, at a price to the public of
$1.50 per share and accompanying warrant to purchase one share of
common stock, for expected gross proceeds of $10.0 million before
deducting underwriters’ discounts, commissions and estimated
offering expenses. Each warrant will have an exercise price of
$2.00 per share and will expire five years from the date of its
issuance.
Cantor Fitzgerald & Co. is acting as lead
book-running manager and SunTrust Robinson Humphrey, Inc. is acting
as joint book-running manager for the offering.
The securities described above are being offered
by the Company pursuant to a “shelf” registration statement on
Form S-3 (File No. 333-218517) relating to the public offering
of such securities, which was filed with the U.S. Securities and
Exchange Commission (the “SEC”) on June 6, 2017 and declared
effective by the SEC on June 16, 2017. A preliminary prospectus
supplement related to the offering was filed with the SEC on May
21, 2019 and a final prospectus supplement related to the offering
will be filed with the SEC, all of which will be available on the
SEC's website at http://www.sec.gov. Copies of the final prospectus
supplement (when available) and the accompanying prospectus
relating to the securities being offered may also be obtained by
sending a request to: Cantor Fitzgerald & Co., Attn: Capital
Markets, 499 Park Avenue, 6th Floor, New York, NY 10022, or by
email at prospectus@cantor.com, or from SunTrust Robinson Humphrey,
Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326,
Attention: Prospectus Department; email:
strh.prospectus@suntrust.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy any of these
securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful, prior to registration or qualification under the
securities laws of any such state or jurisdiction. The offer is
only being made by means of the prospectus supplement and
accompanying prospectus forming a part of the effective
registration statement.
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 and
industrial 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. The
Company is headquartered in the Bay Area and is listed on the
Nasdaq Capital Market under the symbol EKSO.
Forward-Looking Statements
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements may include, without limitation,
statements regarding (i) the terms of the public offering,
including the underwriters’ commissions and discounts and estimated
offering expenses, and (ii) the assumptions underlying or relating
to any statement described in point (i), including assumptions
regarding the closing of the offering. 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, unfavorable market conditions, occurrence of force
majeure, or the inability of one or more underwriters to
participate in the proposed public offering. These and other
factors are identified and described in more detail in the final
prospectus supplement to be filed with the SEC in connection with
the proposed public offering, including the Company’s Annual Report
on Form 10-K for the year ended December 31, 2018 and Quarterly
Report on Form 10-Q for the three months ended March 31, 2019,
which will be incorporated by reference in such final prospectus
supplement, and the other documents incorporated by references in
such final prospectus supplement and Company’s other filings with
the SEC. The Company does not undertake to update these
forward-looking statements.
Media Contact:
Glenn Silver 646-871-8485 eksobionics@lazarpartners.com
Investor Contact:
David Carey 212-867-1768 investors@eksobionics.com
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