Ekso Bionics Announces Proposed Public Offering of Common Stock and Warrants
RICHMOND, Calif., May 21, 2019 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company,” “Ekso” or “Ekso Bionics”), an industry leader in exoskeleton technology for medical and industrial use, today announced that it is commencing an underwritten public offering of shares of its common stock and warrants to purchase shares of its common stock. All the shares and warrants to be sold in the offering will be offered by Ekso. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Cantor Fitzgerald & Co. is acting as lead book-running manager and SunTrust Robinson Humphrey, Inc. is acting as joint book-running manager for the proposed offering.
The Company intends to use the net proceeds, if any, from the sale of the shares of common stock and warrants in the offering (and from the exercise, if any, of the warrants issued in the offering) for general corporate purposes, which may include acquisitions, research and development activities, capital expenditures, selling, general and administrative costs, facilities expansion, and to meet working capital needs.
The securities described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-218517) relating to the public offering of such securities, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 6, 2017 and declared effective by the SEC on June 16, 2017. The offering may be made only by a preliminary prospectus supplement and the accompanying prospectus. Before investing in the offering, you should read in their entirety the preliminary prospectus supplement, when available, and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and the offering.
A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement, when available, and the accompanying prospectus relating to these securities may also be obtained by sending a request to: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th Floor, New York, NY 10022, or by email at prospectus@cantor.com, or from SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attention: Prospectus Department; email: strh.prospectus@suntrust.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance, and mobility across medical and industrial applications. Founded in 2005, the Company continues to build upon its unparalleled expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe. The Company is headquartered in the Bay Area and is listed on the Nasdaq Capital Market under the symbol EKSO.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may include, without limitation, statements regarding (i) the terms of the proposed public offering, (ii) expected use of the proceeds of the proposed public offering and the exercise, if any, of the warrants issued in the offering, and (iii) the assumptions underlying or relating to any statement described in points (i) and (ii). Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, unfavorable market conditions, occurrence of force majeure, inability of one or more underwriters to participate in the proposed public offering, the Company’s inability to obtain adequate financing to fund the Company’s operations and necessary to develop or enhance our technology, the significant length of time and resources associated with the development of the Company’s products, the Company’s failure to achieve broad market acceptance of the Company’s products, the failure of our sales and marketing organization or partners to market our products effectively, adverse results in future clinical studies of the Company’s medical device products, the failure to obtain or maintain patent protection for the Company’s technology, failure to obtain or maintain regulatory approval to market the Company’s medical devices, lack of product diversification, existing or increased competition, regulatory intervention resulting in the inability of the Company to execute its strategic plans and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the prospectus supplement to be filed with the SEC in connection with the proposed public offering, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and Quarterly Report on Form 10-Q for the three months ended March 31, 2019, which will be incorporated by reference in such preliminary prospectus supplement, and the other documents incorporated by reference in such preliminary prospectus supplement and Company’s other filings with the SEC. The Company does not undertake to update these forward-looking statements.
Media Contact:
Glenn Silver
646-871-8485
eksobionics@lazarpartners.com
Investor Contact:
David Carey
212-867-1768
investors@eksobionics.com
Released May 21, 2019