ReWalk Robotics Confirms Receipt of Director Candidate Nominations from Creative Value Capital
May 19 2022 - 7:55AM
ReWalk Robotics Ltd. (Nasdaq: RWLK) (“ReWalk” or the “Company”), a
leading manufacturer of robotic medical technology for people with
lower extremity disabilities, today announced that it has received
notice from Creative Value Capital Limited Partnership (“CVC”),
which claims to hold approximately 3% of ReWalk’s outstanding
shares, that it intends to nominate two candidates for election to
the Company’s Board of Directors (the “Board”) and submit two
additional proposals for consideration at the 2022 Annual Meeting
of Shareholders (the “Annual Meeting”). The Board will present its
recommendation regarding director nominees in the Company's
definitive proxy materials, which will be filed with the Securities
and Exchange Commission and mailed to all shareholders eligible to
vote at the Annual Meeting. The date of the Annual Meeting has not
yet been announced.
Shareholders are not required to take
any action at this time.
Jeff Dykan, Chairman of the Board,
commented:
“ReWalk’s Board maintains an active and open
dialogue with the Company’s shareholders to ensure their feedback
and ideas are incorporated into our decisions and strategy. We have
engaged in good faith with CVC to understand its perspectives and
the qualifications of its nominees. At this point, we continue to
seek a constructive resolution that spares shareholders from having
to endure a costly, distracting and unnecessary proxy fight. We are
focused on continuing to strengthen ReWalk’s Board for the benefit
of all shareholders. Notably, the October 2020 appointment of
Randel Richner and the April 2022 appointment of Joseph E. Turk,
Jr. exemplify our commitment to strategic Board refreshment. Both
individuals possess critical skill sets in reimbursement and
post-CMS commercialization, which aligns with our short and
long-term needs. We look forward to engaging further with our
shareholders in the days and weeks to come.”
About ReWalk Robotics
Ltd.
ReWalk Robotics Ltd. develops, manufactures and
markets wearable robotic exoskeletons for individuals with lower
limb disabilities as a result of spinal cord injury or stroke.
ReWalk’s mission is to fundamentally change the quality of life for
individuals with lower limb disability through the creation and
development of market leading robotic technologies. Founded in
2001, ReWalk has headquarters in the U.S., Israel and Germany. For
more information on the ReWalk systems, please visit
www.rewalk.com.
ReWalk® is a registered trademark of ReWalk
Robotics Ltd. in Israel and the Unites States.
ReStore® is a registered trademark of ReWalk
Robotics Ltd. in the United States, Europe and the United Kingdom.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, Section 27A of the U.S. Securities
Act of 1933, and Section 21E of the U.S. Securities Exchange Act of
1934. Such forward-looking statements include statements that are
not statements of historical fact and, in some cases, may be
identified by words like "anticipate," "assume," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "future," "will," "should,"
"would," "seek" and similar terms or phrases. The forward-looking
statements contained in this press release are based on
management's current expectations, which are subject to
uncertainty, risks and changes in circumstances that are difficult
to predict and many of which are outside of ReWalk's control.
Important factors that could cause ReWalk's actual results to
differ materially from those indicated in the forward-looking
statements include, among others: those factors discussed under the
heading "Risk Factors" in ReWalk's annual report on Form 10-K for
the year ended December 31, 2021 filed with the Securities and
Exchange Commission (the “SEC”) and other documents subsequently
filed with or furnished to the SEC. Any forward-looking statement
made in this press release speaks only as of the date hereof.
Factors or events that could cause ReWalk's actual results to
differ from the statements contained herein may emerge from time to
time, and it is not possible for ReWalk to predict all of them.
Except as required by law, ReWalk undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future developments or otherwise.
Important Additional
Information
The Company, its directors and certain of its
executive officers are participants in the solicitation of proxies
from the Company’s shareholders in connection with the Annual
Meeting. The Company intends to file a definitive proxy statement
and a WHITE proxy card with the SEC in connection with any such
solicitation of proxies from the Company’s shareholders.
SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH
PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN
THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.
The Company’s definitive proxy statement for the 2021 annual
meeting of shareholders contains information regarding the direct
and indirect interests, by security holdings or otherwise, of the
Company’s directors and executive officers in the Company’s
securities. Information regarding subsequent changes to their
holdings of the Company’s securities can be found in the SEC
filings on Forms 3, 4 and 5, which are available on the Company’s
website at http://ir.rewalk.com or through the SEC’s website
at www.sec.gov. Information can also be found in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2021 and
Amendment No. 1 to the Company’s Annual Report on Form 10-K for the
year ended December 31, 2021 on file with the SEC. Updated
information regarding the identity of potential participants, and
their direct or indirect interests, by security holdings or
otherwise, will be set forth in the definitive proxy statement and
other materials to be filed with the SEC in connection with the
Annual Meeting. Shareholders will be able to obtain the definitive
proxy statement, any amendments or supplements to the proxy
statement and other documents filed by the Company with the SEC at
no charge on the SEC’s website at www.sec.gov. Copies will also be
available at no charge on the Company’s website at
http://ir.rewalk.com.
Contacts
In the U.S.
Morrow Sodali Michael Verrechia / Eric Kamback,
203-658-9400 m.verrechia@morrowsodali.com /
e.kamback@morrrowsodali.com
Longacre Square Partners Joe Germani / Greg
Marose jgermani@longacresquare.com /
gmarose@longacresquare.com
In Israel
Israel Tel-Aviv MR. Eran Yoels
Eran@RCSPR.CO.IL
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