Ekso Bionics Announces $10 Million Bought Deal Offering Of Common Stock
February 08 2021 - 5:10PM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics”), an
industry leader in exoskeleton technology for medical and
industrial use, today announced that it has entered into an
underwriting agreement with H.C. Wainwright & Co., LLC under
which the underwriter has agreed to purchase on a firm commitment
basis 975,610 shares of common stock of Ekso Bionics, at a price to
the public of $10.25 per share, less underwriting discounts
and commissions. The closing of the offering is expected to occur
on or about February 11, 2021, subject to the satisfaction of
customary closing conditions.
H.C. Wainwright & Co. is acting as the sole
book-running manager for the offering.
Ekso Bionics also has granted to the underwriter
a 30-day option to purchase up to an additional 146,341 shares of
common stock at the public offering price, less underwriting
discounts and commissions. 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 $10.0 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 are being offered by
Ekso Bionics pursuant to a base shelf 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 is being made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to, and describing the terms of,
the offering will be filed with the SEC and will be available on
the SEC’s website at http://www.sec.gov. Electronic copies of the
preliminary prospectus supplement and accompanying prospectus may
also be obtained, when available, 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) our ability to close
the offering, (ii) the use of proceeds from the offering, and (iii)
the assumptions underlying or relating to any statement described
in points (i) and (ii) 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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