Lifeward Secures $5 Million Offering to Enhance Rehabilitation Services

Lifeward Secures $5 Million Registered Direct Offering

Lifeward Ltd. (NASDAQ: LFWD) has revealed an exciting new development as it embarks on a journey to secure funding that will enhance its pioneering rehabilitation products. This registered direct offering, allowing Lifeward to sell an aggregate of 1,818,183 ordinary shares at a purchase price of $2.75 per share, has been officially priced at-the-market. This marks a significant milestone in the company's ongoing mission to revolutionize rehabilitation and support for individuals facing physical limitations.

Understanding the Offering

The offering is anticipated to yield about $5 million in gross proceeds for Lifeward, which will be pivotal in advancing the company's innovative initiatives. As part of this transaction, Lifeward also plans to conduct a private placement, allowing for the issuance of unregistered short-term warrants that provide the opportunity to purchase equivalent shares in the future. These warrants will be valid for three years, marking an enduring commitment to support investors.

Use of Proceeds

With the proceeds from this offering, Lifeward plans to bolster its commercial efforts while also focusing on essential working capital and general corporate requirements. This strategic approach underscores the company's dedication to maintaining its position as a leader in rehabilitation solutions.

Regulatory Compliance and Offer Details

The ordinary shares are being facilitated under a “shelf” registration statement on Form S-3, previously established with the Securities and Exchange Commission (SEC). This registration process aims to streamline and comply with necessary regulations, ensuring a transparent offering for potential investors. Lifeward's commitment to regulatory adherence demonstrates its awareness of market complexities and its proactive measures to navigate them smoothly.

Company's Growth and Innovation

Lifeward's innovation is driven by its desire to improve the lives of those who face physical challenges. The company specializes in designing, developing, and commercializing game-changing solutions that span the continuum of care within physical rehabilitation. Lifeward’s product portfolio includes advanced technologies such as the ReWalk Exoskeleton, the AlterG Anti-Gravity System, and the MyoCycle FES System, which are designed to deliver tangible benefits to users, helping them regain mobility and independence.

The Journey Ahead

Founded in 2001, Lifeward has established a significant presence across the globe, with operations in the United States, Israel, and Germany. The current offering is just one step in its long-term vision to unlock potential for individuals with disabilities, driving innovation relentlessly. Lifeward's operational strategy reflects a deep understanding of the needs of its users, thereby creating not just products, but pathways to a better quality of life.

Commitment to Community and Collaboration

In the spirit of collaboration, Lifeward works closely with professionals in rehabilitation and healthcare to ensure that its solutions are not only advanced but also practical and effective for end-users. This community-driven approach strengthens the company’s ties within the healthcare sector and adds valuable feedback into its product development cycle.

Frequently Asked Questions

What is the purpose of Lifeward's recent offering?

The offering aims to raise approximately $5 million to support Lifeward's commercial efforts, working capital needs, and general corporate purposes.

What products does Lifeward specialize in?

Lifeward specializes in advanced rehabilitation technologies, including the ReWalk Exoskeleton and the AlterG Anti-Gravity System, aimed at improving mobility and quality of life.

How are the new shares being offered?

The shares are being offered through a registered direct offering priced at-the-market under the Nasdaq rules.

Who is facilitating the offering?

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering, ensuring the process aligns with market standards.

Where can I find more information about Lifeward's products?

Detailed information about Lifeward’s products can be found on their website, GoLifeward.com, showcasing their innovative solutions.

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