(“ReWalk” or the “Company”) today announced the closing of its previously announced registered direct offering of approximately 833,334 ordinary shares at a purchase price of $6.00 per ordinary share, priced at-the-market. The gross proceeds from the offering, before deducting placement agent fees and offering expenses, are approximately $5.0 million.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

ReWalk also issued unregistered warrants to purchase up to 416,667 ordinary shares. The warrants have a term of 5.5 years, are exercisable immediately and have an exercise price of $6.00 per ordinary share.

ReWalk intends to use the net proceeds from the offering for (i) sales, marketing and reimbursement expenses related to market development activities of the ReStore device and broadening third-party payor coverage for the ReWalk Personal device, and (ii) research and development costs related to developing the Company’s lightweight exo-suit technology for various lower limb disabilities, including stroke and other indications affecting the ability to walk.

The ordinary shares described above were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-231305), which was declared effective by the United States Securities and Exchange Commission (the “SEC”) on May 23, 2019. Such ordinary shares were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

The warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and, along with the ordinary shares issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.


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