June 10, 2019
ReWalk to raise $5M from institutional investors after FDA approval
Photo | Courtesy of ReWalk
A demonstration of ReWalk's exoskeleton systems
ReWalk Robotics on Monday announced it will raise another $5 million from a sale of more than 833,000 shares to institutional investors on the heels of a key regulatory approval.
Along with the shares are warrants to purchase up to 416,667 shares.
ReWalk, the Marlborough-based makers of exoskeleton suit systems to help stroke patients and people with spinal cord injuries walk, saw its stock price skyrocket last week after the U.S. Food and Drug Administration approved ReStore soft suit for use in stroke rehab centers.
The stock price jumped from $3.31 at Tuesday’s close to an $8.92 open on Wednesday.
On Monday, the stock opened at $5.90.
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