Brief: Ekso Bionics Announces Acquisition Of Human Motion, Control Business Unit Including Indego Product Line From Parker Hannifin Corp

Chronoscale

05/12/2022 14:11

Dec 5 (Reuters) - Ekso Bionics Holdings Inc  EKSO.O :
    * EKSO BIONICS ANNOUNCES ACQUISITION OF HUMAN MOTION AND
CONTROL
BUSINESS UNIT INCLUDING INDEGO® PRODUCT LINE FROM PARKER
HANNIFIN CORPORATION
    * EKSO BIONICS HOLDINGS INC - EKSO PRESIDENT AND COO SCOTT
DAVIS
PROMOTED TO CHIEF EXECUTIVE OFFICER
    * EKSO BIONICS HOLDINGS INC - STEVEN SHERMAN TO REMAIN
CHAIRMAN,
APPOINTED EXECUTIVE CHAIR
    * EKSO BIONICS HOLDINGS INC - ACQUIRED ALL OF PARKER'S HMC
GLOBAL
BUSINESS ASSETS IN U.S. AND EUROPE FOR AN AGGREGATE PURCHASE
PRICE OF $10 MILLION
    * EKSO BIONICS HOLDINGS INC - ACQUISITION INCLUDES INDEGO
LOWER
LIMB EXOSKELETON LINE OF PRODUCTS, PLANNED DEVELOPMENT OF
ROBOTIC ASSISTED
    * EKSO BIONICS - PAID $5 MILLION AT CLOSING & DELIVERED $5
MILLION
SUBORDINATED, UNSECURED ZERO COUPON NOTE PAYABLE QTRLY OVER 4
YRS, COMMENCING DEC 31, 2023

Source text for Eikon:  ID:nGNXb1C2MX 
Further company coverage:  EKSO.O 
 ((Reuters.Briefs@thomsonreuters.com;))