Ekso Bionics [NASDAQ: EKSO] Reports $40M Capital Raise

Ekso Bionics Holdings, Inc. [NASDAQ: EKSO] revealed that the underwriter has come to an agreement to increase the size of the earlier declared public offering and buying on a firm guarantee basis 3,902,440 common shares of Ekso, at a price to the public of $10.25 per share, less underwriting discounts, and commissions.

Ekso Bionics revealed that this move has been taken due to escalating demands. The sole agent for this offering will be H.C. Wainwright & Co. Furthermore, Ekso Bionics has allowed the financier a 30-day option to buy up to 585,366 extra common shares at the public offering price, less underwriting deductions, and payments.

The firm has predicted that the profits from this offering will be nearly $40 million before subtracting the underwriting markdowns and expenses. This gain is expected to receive by the firm on the assumption that no exercise of the financier’s option to buy additional common stock. Ekso is planning to utilize the profit from the declaration for general corporate purposes.

Shares of Ekso Bionics Holdings, Inc. [NASDAQ: EKSO] moved up 25.31% at $13.07 during the trading session of Monday. The firm’s share has wavered between the 52-week low range of $2.25 and a 52-week high range of $11.10. Its share rose 480.89% and 17.75% from its 52-week low and high, respectively. Ekso Bionics has a total market capitalization of $99.72 million at the time of writing.  

Moreover, the firm is also intending to use the profit for the necessary buying and for the repayment of debts. Additionally, the shares of common stock are being granted by Ekso Bionics following a listing declaration on Form S-3 initially submitted with the SEC on June 16, 2020, and proclaimed valid by the SEC on June 26, 2020. It is anticipated that the offering deal will be finalized on or about February 11, 2021, after the fulfillment of necessary conditions.