Business
Ekso Bionics Increases Previously Announced Bought Deal Offering of Common Stock to $40 Million
RICHMOND, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics”), an industry leader in exoskeleton technology
About this update from Ekso Bionics Holdings, Inc.
[{"type":"text","content":"RICHMOND, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (“Ekso Bionics”), an industry leader in exoskeleton technology for medical and industrial use, today announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 3,902,440 shares of common stock of Ekso Bionics, at a price to the public of $10.25 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about February 11, 2021, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the sole book-running manager for the offering. Ekso Bionics also has granted to the underwriter a 30-day option to purchase up to an additional 585,366 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Ekso Bionics, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter’s option to purchase additional common stock, are expected to be approximately $40.0 million. Ekso Bionics intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include repayment of debt, acquisitions and other business opportunities. The shares of common stock are being offered by Ekso Bionics pursuant to a registration statement on Form S-3 (Registration No. 333-239203) originally filed with the Securities and Exchange Commission (the “SEC”) on June 16, 2020 and declared effective by the SEC on June 26, 2020. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and upon filing will be available on the SEC’s website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone ...