ReWalk Robotics tumbles on $32.5 mln stock offering

Lifeward

27/09/2021 14:11

** Shares of medical device manufacturer  RWLK.O  down ~17%
premarket at $1.67 
    ** Co announces direct stock offering of 16 mln of its
ordinary shares at an effective purchase price of $2.035
each urn:newsml:reuters.com:*:nGNX9C6qdY
    ** Co has 46.41 mln shares outstanding for a $93.3 bln
market cap, per Refinitiv data
    ** RWLK also agrees to issue to the investors unregistered
warrants to purchase up to total amount of 8 mln shares in a
concurrent private placement
    ** Plans to use proceeds for its ReStore and Personal 6.0
devices, research and development, product updates and working
capital requirements
    ** H.C. Wainwright & Co. acting as the exclusive placement
agent for the offering, which is expected to close on or about
Sept. 29
    ** Up to Friday's closing price, stock up 52.3% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com;))