The robot medical device wheelchair replacement developer's planned offering includes a $47 million sale by shareholders.
Ra'anana-based medical devices company ReWalk Robotics Ltd. (Nasdaq:RWLK) is revising its shelf prospectus for a debt offering of up to $100 million. That prospectus was issued in October, but the company has since begun reporting as a US company, and is therefore revising its shelf prospectus to comply with the rules applying to its new status.
Under the revised version, in addition to a possible $100 million debt issue, company shareholders can sell 4.4 million shares at their current value of $47 million. ReWalk says that it plans to use the money from the issue (if it takes place) for general business needs. ReWalk recently ensured itself a $20 million line of credit from the Kreos Capital fund, of which it has already used $12 million. At the end of 2015, before the line of credit was obtained.