Ekso Bionics Entered Into A Securities Purchase Agreement With Certain Institutional Investors For 2.9M Shares At $1.55/Share, With Gross Proceeds Of Approximately $4.6M
Portfolio Pulse from Benzinga Newsdesk
Ekso Bionics has entered into a securities purchase agreement with institutional investors to sell 2.9 million shares at a price of $1.55 per share. The transaction is expected to generate gross proceeds of approximately $4.6 million for the company.
January 11, 2024 | 1:05 pm
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NEUTRAL IMPACT
Ekso Bionics' agreement to sell 2.9 million shares at $1.55 each will infuse the company with approximately $4.6 million in gross proceeds, which may be used to fund operations or growth initiatives.
The sale of shares will provide Ekso Bionics with additional capital, which is generally positive as it can support the company's growth and operations. However, the issuance of new shares can also dilute existing shareholders' equity, potentially leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100