Ekso Bionics Announces Closing of $7.89 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
June 10 2020 - 01:30PM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an
industry leader in exoskeleton technology for medical and
industrial use, today announced the closing of its previously
announced registered direct offering of 1,747,704 shares of its
common stock at a purchase price of $4.5145 per share and the
concurrent private placement of warrants to purchase up to 873,852
shares of its common stock issued to the accredited investors in
the registered direct offering priced at-the-market under Nasdaq
Rules, for aggregate gross proceeds of approximately $7.89 million.
The warrants are immediately exercisable, have an exercise price of
$5.18 per share and a term of five and one-half years from the
issuance date.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The Company intends to use the net proceeds from
the offering for working capital and general corporate
purposes.
The shares of common stock described above (but
not the warrants or the shares of common stock underlying the
warrants) were offered and sold by the Company in a registered
direct offering pursuant to a “shelf” registration statement on
Form S-3 (Registration No. 333-218517), including an
accompanying base prospectus, previously filed with, and declared
effective by, the Securities and Exchange Commission (the “SEC”) on
June 16, 2017. The offering of the shares of common stock (but not
the warrants or the shares of common stock underlying the warrants)
was made only by means of a prospectus supplement to the base
prospectus that forms a part of such registration statement. A
final prospectus supplement and an accompanying base prospectus
relating to the registered direct offering of the shares of common
stock described above (but not the warrants or the shares of common
stock underlying the warrants) were filed with the SEC and are
available on the SEC’s website located at http://www.sec.gov.
Electronic copies of the prospectus supplement and the accompanying
base prospectus may also be obtained by contacting H.C. Wainwright
& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by phone at 646-975-6996 or e-mail at placements@hcwco.com.
The warrants described above were offered in a
concurrent private placement under Section 4(a)(2) of the
Securities Act of 1933, as amended (the “Act”), and Regulation D
promulgated thereunder. The offer and sale of the warrants and the
shares of common stock underlying the warrants have not been
registered under the Act, or applicable state securities laws.
Accordingly, the warrants and the underlying shares of common stock
may not be offered or sold in the United States, except pursuant to
an effective registration statement or an applicable exemption from
the registration requirements of the Act and such applicable state
securities laws.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, 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.
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 industry-leading 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 San Francisco Bay
Area and is listed on the Nasdaq Capital Market under the symbol
EKSO. For more information, visit: www.eksobionics.com or follow
@EksoBionics on Twitter.
Forward-Looking Statements
Any 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 use of proceeds,
and (ii) the assumptions underlying or relating to any statement
described in point (i) 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 future financing or realize adequate revenue from
the sale of its products and services (including due to the
outbreak of COVID-19) to fund the Company’s operations and
necessary to develop or enhance the Company’s 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 the Company’s sales and marketing efforts or of partners
to market the Company’s products effectively, adverse results in
future clinical studies of the Company’s medical device products,
the failure of the Company to obtain or maintain patent protection
for the Company’s technology, the failure of the Company to obtain
or maintain regulatory approval to market the Company’s medical
devices, lack of product diversification, existing or increased
competition, disruptions in the Company’s supply chain due to the
outbreak of the COVID-19 virus, adverse regulatory decisions
related to the China JV 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 the
Company’s website at www.eksobionics.com or refer to the Company’s
Twitter page at @EksoBionics. The Company does not undertake to
update these forward-looking statements, except as required by
law.
Investor Contact:David
Carey212-867-1768investors@eksobionics.com
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