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ReWalk Robotics -8.6% on $15M share offering

Published 09/20/2017, 05:31 PM
© Reuters.  ReWalk Robotics -8.6% on $15M share offering
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  • ReWalk Robotics (NASDAQ:RWLK) has slid 8.6% after hours following a filing to raise $15M through a share offering, part of its attempts to raise cash to boost its product line.
  • The company says it will use net proceeds for "(i) sales, marketing and reimbursement expenses related to market development activities and broadening third-party payor coverage and (ii) research and development costs related to developing our lightweight 'soft suit' exoskeleton device aimed at assisting patients who have suffered a stroke."
  • Canaccord Genuity is the sole book-runner.
  • Shares in the company are down 39.3% YTD.
  • Now read: Aytu BioScience sets 1-for-20 reverse split


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