ReWalk Robotics raises $4m

ReWalk Robotics (NSDQ:RWLK) has raised approximately $4.3 million in a new round of financing, according to recently posted SEC filings.

In the offering, ReWalk Robotics sold warrants to purchase ordinary shares at a purchase price of approximately $5.20, according to the filing. Warrants offered in the round have an exercise price of $5.14 and are exercisable for 5.5 years from the date of issuance. Warrants were issued on April 5, ReWalk Robotics said.

Money in the round came from three unnamed investors, with the first date of sale noted as having occurred on April 3.

The company is looking to raise an additional approximate $2.1 million, which would bring the total raised in the round to approximately $6.3 million, according to the filing.

Proceeds from the offering will be used to support sales, marketing and reimbursement expenses related to market development activities and broadening third-party payor coverage, as well as R&D costs related to the ReStore device and other products, according to the filing.

In February, ReWalk Robotics said that it applied to FDA for 510(k) clearance of its ReStore exoskeleton suit seeking indications for gait training during stroke rehabilitation.

from MassDevice http://bit.ly/2ULfc8K