Lifeward Ltd. Celebrates Successful $2.6 Million Offering
Lifeward Ltd. Successfully Closes Public Offering
MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel - Lifeward Ltd. (NASDAQ: LFWD), a leader in innovative medical technology, has successfully concluded its latest public offering. This offering involved an aggregate of 4,000,000 shares of the Company's ordinary stock and warrants associated with the same number of shares. The shares and their accompanying warrants were offered at a combined public offering price of $0.65 each.
The ordinary warrants, with an exercise price set at $0.65 per share, become immediately exercisable upon issuance and will remain valid through the five-year anniversary of their issuance date. This strategic move positions Lifeward to capitalize on its growing market presence.
Significant Proceeds from the Offering
The offering generated approximately $2.6 million in gross proceeds for Lifeward before accounting for placement agent fees and other expenses related to the offering. If all ordinary warrants are exercised in cash, it could result in an additional $2.6 million for the Company. However, there is no guarantee that these warrants will be fully exercised.
Lifeward is focused on utilizing the funds from this public offering to support ongoing commercial activities, enhance working capital, and cover general corporate needs. This financial strategy reflects the Company's commitment to advance its transformative medical technology solutions.
Expertise from H.C. Wainwright
H.C. Wainwright & Co. played a pivotal role as the exclusive placement agent for this offering. Their vast expertise in guiding medical technology companies through financing activities has proven invaluable.
Details of the Offering
The shares offered during this public placement were part of a registration statement on Form S-1, which was declared effective by regulatory authorities. This offering was solely made through a prospectus that accompanied the effective registration statement. Lifeward ensures that all necessary legal protocols are being followed to provide investors with transparency and compliance.
About Lifeward Ltd.
Lifeward is dedicated to designing, developing, and commercializing innovative solutions aimed at improving the quality of life for individuals with physical limitations or disabilities. Their product line includes groundbreaking technologies such as the ReWalk Exoskeleton, the AlterG Anti-Gravity System, the ReStore Exo-Suit, and the MyoCycle FES System. Established in 2001, the Company has expanded its footprint to operations in multiple countries including the United States and Germany.
At Lifeward, the mission is clear: to drive innovation relentlessly, changing lives through technology. Their solutions deliver significant health benefits and facilitate recovery in clinical environments and home settings.
Committed to Innovation
Lifeward continues to focus on expanding its range of products that empower individuals. Innovations like the ReWalk and AlterG systems have revolutionized the realm of physical rehabilitation, providing users with independence and confidence to engage in their passions.
Frequently Asked Questions
What is the recent offering amount raised by Lifeward?
Lifeward recently raised approximately $2.6 million through a public offering.
What are the primary uses of the proceeds from the offering?
The proceeds are intended for ongoing commercial efforts, working capital, and general corporate purposes.
Who acted as the placement agent for this offering?
H.C. Wainwright & Co. served as the exclusive placement agent.
What innovative products does Lifeward offer?
Lifeward’s product lineup includes the ReWalk Exoskeleton, AlterG Anti-Gravity System, ReStore Exo-Suit, and MyoCycle FES System.
How does Lifeward intend to utilize the potential additional gross proceeds?
The Company aims to invest the potential additional gross proceeds from warrants towards its innovative technology and corporate growth strategies.
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