ReWalk robotics announces closing of $12.1M public offering

• ReWalk Robotics (NASDAQ:RWLK) closed its previously announced underwritten public offering of 12.4M units and 26.26M pre-funded units at $0.30/common unit and $0.29/pre-funded unit, including purchase of an additional 5.8M ordinary shares and common warrants to purchase an additional 5.8M ordinary shares purchased pursuant to the exercise in full of the underwriters’ option to purchase additional securities.
• Each unit contains one ordinary share (or, in the case of the pre-funded units, one pre-funded warrant) and one common warrant to purchase an ordinary share.
• Net proceeds will be used for sales, marketing and reimbursement expenses related to market development activities and broadening third-party payor coverage, research and development costs related to developing its lightweight “soft suit” exoskeleton technology for various lower limb disabilities, including stroke and other indications affecting the ability to walk, and (iii) the repayment of certain outstanding indebtedness and other related payments to Kreos Capital V (Expert Fund) Limited ($3.6 million in total, including principal, prepayment costs and “end of loan” payments).

Source: https://seekingalpha.com/news/3411532-rewalk-robotics-announces-closing-12_1m-public-offering