Ekso Bionics Announces Closing of $40 Million Bought Deal Offering
February 11 2021 - 4:35PM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics”), an
industry leader in exoskeleton technology for medical and
industrial use, today announced the closing of its previously
announced underwritten public offering of 3,902,440 shares of
common stock of Ekso Bionics, at a price to the public of $10.25
per share, less underwriting discounts and commissions. As
previously announced, Ekso Bionics also has granted to the
underwriter a 30-day option to purchase up to an additional 585,366
shares of common stock at the public offering price, less
underwriting discounts and commissions.
H.C. Wainwright & Co. acted as the sole
book-running manager for the offering.
The gross proceeds to Ekso Bionics, before
deducting underwriting discounts and commissions and offering
expenses and assuming no exercise of the underwriter’s option to
purchase additional common stock, are expected to be approximately
$40.0 million.
Ekso Bionics intends to use the net proceeds
from the offering for working capital and other general corporate
purposes, which may include repayment of debt, acquisitions and
other business opportunities.
The shares of common stock were offered by Ekso
Bionics pursuant to a registration statement on Form S-3
(Registration No. 333-239203) originally filed with the Securities
and Exchange Commission (the “SEC”) on June 16, 2020 and declared
effective by the SEC on June 26, 2020. The offering of the shares
of common stock was made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. A final prospectus supplement and accompanying
prospectus relating to the offering has been filed with the SEC and
are available on the SEC’s website at http://www.sec.gov and 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.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other 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, Ekso Bionics 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. Ekso Bionics 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
from the offering, and (ii) the assumptions underlying or relating
to any statement described in (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 Ekso Bionics’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 Ekso Bionics 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, market and other conditions and those identified and
described in Ekso Bionics’s filings with the SEC. To learn more
about Ekso Bionics please visit Ekso Bionics’s website at
www.eksobionics.com or refer to Ekso Bionics’s Twitter page at
@EksoBionics. Ekso Bionics does not undertake to update these
forward-looking statements, except as required by law.
Investor Contact: David Carey
212-867-1768 investors@eksobionics.com
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