Ekso Bionics Announces Proposed Public Offering of Common Stock and Warrants
May 21 2019 - 4:01PM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company,” “Ekso”
or “Ekso Bionics”), an industry leader in exoskeleton technology
for medical and industrial use, today announced that it is
commencing an underwritten public offering of shares of its common
stock and warrants to purchase shares of its common stock. All the
shares and warrants to be sold in the offering will be offered by
Ekso. The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering.
Cantor Fitzgerald & Co. is acting as lead
book-running manager and SunTrust Robinson Humphrey, Inc. is acting
as joint book-running manager for the proposed offering.
The Company intends to use the net proceeds, if
any, from the sale of the shares of common stock and warrants in
the offering (and from the exercise, if any, of the warrants issued
in the offering) for general corporate purposes, which may include
acquisitions, research and development activities, capital
expenditures, selling, general and administrative costs, facilities
expansion, and to meet working capital needs.
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. The offering may be made
only by a preliminary prospectus supplement and the accompanying
prospectus. Before investing in the offering, you should read in
their entirety the preliminary prospectus supplement, when
available, and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in the preliminary prospectus supplement and the
accompanying prospectus, which provide more information about the
Company and the offering.
A preliminary prospectus supplement and the
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 www.sec.gov. Copies of the preliminary prospectus
supplement, when available, and the accompanying prospectus
relating to these securities 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.
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 proposed public offering,
(ii) expected use of the proceeds of the proposed public offering
and the exercise, if any, of the warrants issued in the offering,
and (iii) the assumptions underlying or relating to any statement
described in points (i) and (ii). 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, inability of one or more
underwriters to participate in the proposed public offering, 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, regulatory
intervention resulting in the inability of the Company to execute
its strategic plans 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 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 preliminary prospectus
supplement, and the other documents incorporated by reference in
such preliminary 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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