Filed Pursuant to Rule 424(b)(3)
Registration No. 333-218517
SUPPLEMENT NO. 1 TO PROSPECTUS SUPPLEMENT DATED JULY 10, 2018
(To Prospectus dated June 16, 2017)
This Supplement No. 1 should be read in conjunction with, and may not be delivered or utilized without, the Prospectus Supplement and the Base Prospectus, which are to be delivered with this Supplement No. 1. This Supplement No. 1 is qualified by reference to the Prospectus Supplement and the Base Prospectus, except to the extent that the information in this Supplement No. 1 amends, updates, restates and/or supersedes the information contained in the Prospectus Supplement and the Base Prospectus.
Our common stock is listed on Nasdaq Capital Market under the symbol “EKSO.” On March 12, 2019, the last reported sale price of our common stock was $2.23 per share. We do not intend to apply to list the warrants on any securities exchange.
Investing in our securities involves a high degree of risk. Please read “Risk Factors” beginning on page S-3 of the Prospectus Supplement and in the documents incorporated by reference into the Prospectus Supplement and the accompanying Base Prospectus.
|Common Stock, $0.001 par value per share||$||2.75||$||4,409,465.50|
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this Supplement No. 1 is March 13, 2019.
Our net tangible book value as of December 31, 2018 was approximately $2.5 million, or $0.04 per share. Net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by the number of shares of our common stock outstanding as of December 31, 2018. Dilution with respect to net tangible book value per share represents the difference between the amount per share paid in connection with the exercise of the Existing Warrants and the net tangible book value per share of our common stock assuming full exercise of all the Existing Warrants.
After giving effect to the issuance of 1,603,442 shares upon exercise of all of the Existing Warrants at an exercise price of $2.75 per share, our as adjusted net tangible book value at December 31, 2018 would have been $6.9 million, or $0.11 per share. This represents an immediate increase in net tangible book value of $0.07 per share to existing stockholders and an immediate dilution of $2.64 per share to investors exercising the Existing Warrants. The following table illustrates this per share dilution:
|Exercise price per share||$||2.75|
|Net tangible book value per share as of December 31, 2018||$||0.04|
|Increase per share attributable to investors exercising the Existing Warrants||$||0.07|
|Net tangible book value per share as of December 31, 2018 after giving effect to the full exercise of all the Existing Warrants||$||0.11|
|Dilution per share to investors exercising the Existing Warrants||$||2.64|
The above discussion is based on 62,962,617 shares of our common stock outstanding as of December 31, 2018 and excludes as of such date:
|·||6,466,138 shares of common stock issuable upon the exercise of stock options outstanding at a weighted average exercise price of $3.05 per share, restricted stock units settleable for 277,740 shares of our common stock, and 1,267,837 shares of our common stock reserved for issuance under our Amended and Restated 2014 Equity Incentive Plan;|
|·||500,000 shares of our common stock reserved for issuance under our employee stock purchase plan; and|
|·||1,792,090 shares of common stock issuable upon the exercise of warrants, other than the Existing Warrants, outstanding at a weighed exercise price of $10.73 per share.|
1,603,442 Shares of Common Stock Underlying
Warrants to Purchase Shares of Common Stock
SUPPLEMENT NO. 1
March 13, 2019