Business
Ekso Bionics Announces $7.89 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
RICHMOND, Calif., June 08, 2020 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology
About this update from Ekso Bionics Holdings, Inc.
[{"type":"text","content":"RICHMOND, Calif., June 08, 2020 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced that it has entered into definitive agreements with several institutional and accredited investors for the issuance and sale of an aggregate of 1,747,704 of its shares of common stock, at a purchase price of $4.5145 per share, in a registered direct offering priced at-the-market under Nasdaq Rules. The Company has also agreed to issue to the investors in a concurrent private placement warrants to purchase up to an aggregate of 873,852 shares of common stock. The closing of the offering is expected to occur on or about June 10, 2020, subject to the satisfaction of customary closing conditions.H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The warrants have an exercise price equal to $5.18 per share, are exercisable immediately and will expire five and one-half years from the issuance date. The gross proceeds from the offering are expected to be approximately $7.89 million. The Company intends to use the net proceeds from the offering for working capital purposes and other general corporate purposes. The shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) are being offered and sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-218517), including an accompanying base prospectus, previously filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”) on June 16, 2017. The offering of the shares of common stock will be made only by means of a prospectus supplement to the base prospectus that forms a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering of the shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New Y...