Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Files An 8-K Financial Statements and ExhibitsItem 9.01
Financial Statements and Exhibits
Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Files An 8-K Financial Statements and Exhibits
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Exhibit 99.1 |
Press release dated September 7, 2017 |
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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EKSO BIONICS HOLDINGS, INC. |
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By: |
/s/ Maximilian Scheder-Bieschin |
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Name: |
Maximilian Scheder-Bieschin |
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Title: |
Chief Financial Officer |
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Dated: September 8, 2017 |
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Exhibit 99.1
Ekso Bionics® Raises $34 Million in Fully-Financed Rights Offering
RICHMOND, Calif., September 7, 2017 — Ekso Bionics Holdings, Inc. (NASDAQ: EKSO) ("Ekso" or "Ekso Bionics"), an industry leader in exoskeleton technology for medical and industrial use, today announced the final results of its previously announced rights offering, which expired on August 31, 2017. Through wide participation, the offering was fully financed and Ekso raised $34.0 million of gross proceeds, including a $20.5 million investment by Puissance Capital Management ("Puissance Capital").
Rights holders subscribed for an aggregate of 13,463,942 common shares in the rights offering, and 20,536,058 common shares will be issued to Puissance Capital. Common shares will be delivered to subscribers in the rights offering on or about September 7, 2017. Excess subscription funds will be returned by VStock Transfer, LLC, the subscription agent in the rights offering, to subscribing rights holders as soon as practicable.
In connection with this investment, Ted Wang, Ph.D., CIO of Puissance Capital Management, is expected to join the Ekso Board of Directors. Puissance Capital Management is a global asset manager founded in 2015 with offices in the U.S. and China. Prior to founding the firm, Dr. Wang was a Partner of Goldman, Sachs & Co in New York. During his 18-year tenure at the firm he held many leadership positions including as a member of the Goldman Sachs Risk Committee. Prior to joining Goldman, Dr. Wang co-founded Xeotron Corp., a company specializing in DNA biochips in Texas. Dr. Wang holds a Ph.D. in Physics from the University of Minnesota, an MBA from the University of Texas, Austin, and a BS from Fudan University, China.
Ekso intends to use the net proceeds from the rights offering (i) to continue with clinical, sales and marketing initiatives to accelerate adoption of Ekso in the rehabilitation market and broaden the Ekso footprint into Asia, (ii) to support research, development and commercialization activities with respect to an Ekso robotic exoskeleton for home use, and/or (iii) in the development and commercialization of able-bodied exoskeletons for industrial use, and for working capital and other general corporate purposes.
The rights offering was made Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) Recent Trading Information
Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) closed its last trading session down -0.03 at 1.12 with 594,918 shares trading hands.