ReWalk Robotics (RWLK) Prices 5.6M Unit Offering at $1.25/Unit

ReWalk Robotics Ltd. (NASDAQ: RWLK) today announced the pricing of a public offering of 5,600,000 units at a price to the public of $1.25 per unit, for gross proceeds of $7.0 million, before deducting placement agent fees and other estimated offering expenses payable by ReWalk. Each unit contains one ordinary share (or ordinary share equivalent) and one common warrant to purchase one ordinary share. The ordinary shares (or ordinary share equivalents) and common warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about February 10, 2020, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Each common warrant has an exercise price of $1.25 per share, is exercisable immediately and will expire five years from the date of issuance.

ReWalk intends to use the net proceeds from the offering for (i) sales, marketing and reimbursement expenses related to market development activities of the ReStore™ device and broadening third-party payor coverage for the ReWalk Personal device, (ii) research and development costs related to developing the Company’s lightweight exo-suit technology for various lower limb disabilities, including stroke and other indications affecting the ability to walk as well as continued development of its spinal cord injury device, and (iii) general corporate purposes.

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