ReWalk Robotics

History

2021: Raising $40 million

In early March 2021, ReWalk Robotics closed a private offering of about $40 million. According to the press release, the offering included more than 10.9 million ordinary shares and warrants for the purchase of almost 5.5 million ordinary shares at a price of $3.6625 per share.

Revenue of $40 million represents the approximate total amount received by the company prior to deduction of H.C. Wainwright & Co. stock offering agent fees and other expenses. Warrants included in the proposal have a validity period of five and a half years and can be used immediately.

ReWalk Robotics said it plans to use the funds raised for sales, marketing and reimbursement of costs associated with the release of soft robotic exoskeleton ReStore for rehabilitation after. stroke Other funds will be used to develop devices to help patients with spinal injuries, brain regular product updates and general corporate costs.

In addition, the company plans to allocate additional funds for R & D to improve the light exocostum of ReWalk for potential use in the home. ReWalk is a bionic exoskeleton that allows people with paraplegia to stand, walk and climb stairs. The system operates from a battery that is in a backpack. Control is carried out using a remote panel, which is worn on the wrist and recognizes the user's movements.

The weight of the ReWalk system is about 23.3 kg: the backpack, in which the computer and battery are located, weighs about 2.3 kg, and the robotic exoskeleton - about 21 kg. Developers hope to simplify the system, individualize it to the needs of patients and make it more user-friendly.^[1]

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