ReWalk Robotics to offer $32.5 million in direct offering, shares slide 21% premarket

4 weeks ago 11
PR Distribution

ReWalk Robotics Ltd. shares RWLK, -7.37% slid 21% in premarket trade Monday, after the company said it has entered agreement to offer $32.5 million of shares and warrants in a direct offering. The shares are being purchased for $2.035, a discount over the stock's closing price of $2.01 on Friday. The offering is expected to close on Sept. 29. Proceeds will be used for sales, marketing and costs relating to its medical devices, for product development and R&D for its spinal cord injury device and for general corporation purposes. Shares have gained 52% in the year to date, while the S&P 500 SPX, +0.15% has gained 18.6%.

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