RWLK - ReWalk Robotics announces equity raise of $8M

ReWalk Robotics (RWLK) to raise $8M through the issuance of 5.6M shares and warrants to purchase up to ~4.1M shares at $1.43375/shares and associated warrant, in a private placement priced “at-the-market”. The 5.5- year warrants are exercisable at $1.34 per ordinary share.The Company intends to use the net proceeds for sales, marketing and reimbursement expenses for its ReStore device, broadening third-party payor coverage for its ReWalk Personal device, R&D activities, and general corporate purposes.The private placement is expected to close by December 7.Shares are down 8% in reaction to the news.

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ReWalk Robotics announces equity raise of $8M