Lifeward Announces Pricing of $2.6 Million Public Offering

Rhea-AI Summary

Lifeward (NASDAQ: LFWD), a medical technology company, has announced the pricing of a $2.6 million public offering. The offering consists of 4,000,000 ordinary shares with accompanying warrants at a combined price of $0.65 per share and warrant.

The warrants will have an exercise price of $0.65, be immediately exercisable, and expire in five years. If fully exercised, they could generate an additional $2.6 million. H.C. Wainwright & Co. is serving as the exclusive placement agent. The company plans to use the proceeds for commercial efforts, working capital, and general corporate purposes, with closing expected around June 26, 2025.

Positive

• Potential for additional $2.6M in proceeds if warrants are fully exercised
• Funds will support commercial efforts and working capital needs

Negative

• Significant dilution for existing shareholders with 4M new shares being issued
• Low offering price of $0.65 per share indicates weak market position
• Small offering size of $2.6M suggests limited funding capability

Insights

Financial Analyst

Lifeward raises $2.6M in a discounted public offering with potential for another $2.6M through warrants, indicating possible cash constraints.

Lifeward's $2.6 million public offering reveals concerning details about the company's financial position. The pricing at $0.65 per share with 1:1 warrants at the same exercise price suggests significant dilution for existing shareholders. This structure, combined with the relatively small offering size, indicates potential cash constraints at the company.

The offering terms merit close attention - both the shares and accompanying warrants are priced at $0.65, with the warrants exercisable immediately. This identical pricing between shares and warrants is unusual and typically signals challenging market conditions for the issuer. If all warrants are exercised, Lifeward could raise an additional $2.6 million, bringing the total to $5.2 million, but there's no guarantee of warrant exercise.

The engagement of H.C. Wainwright as the exclusive placement agent suggests a more complex fundraising environment than a traditional underwritten offering. The stated use of proceeds for "continuing commercial efforts, working capital and general corporate purposes" is notably vague, providing little insight into specific strategic initiatives.

For a NASDAQ-listed medical technology company, this relatively small capital raise with warrant sweeteners suggests Lifeward may be struggling to attract investment at more favorable terms. The 4 million new shares being issued will likely result in meaningful ownership dilution for current shareholders, a significant consideration for existing investors.

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, June 25, 2025 (GLOBE NEWSWIRE) -- Lifeward Ltd. (NASDAQ: LFWD) (“Lifeward” or the “Company”), a global leader in innovative medical technology to transform the lives of people with physical limitations or disabilities, today announced the pricing of a public offering of an aggregate of 4,000,000 of the Company’s ordinary shares and accompanying warrants to purchase up to 4,000,000 of the Company’s ordinary shares, at a combined public offering price of $0.65 per ordinary share and associated ordinary warrant. The ordinary warrants will have an exercise price of $0.65 per ordinary share, will be exercisable immediately upon issuance and will expire on the five-year anniversary of the issuance date. The closing of the offering is expected to occur on or about June 26, 2025, subject to the satisfaction of customary closing conditions.

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

The aggregate gross proceeds to the Company from the offering are expected to be approximately $2.6 million before deducting the placement agent’s fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the ordinary warrants, if fully exercised on a cash basis, will be approximately $2.6 million. No assurance can be given that any of the ordinary warrants will be exercised. The Company intends to use the net proceeds from this offering for its continuing commercial efforts, working capital and general corporate purposes.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-288172), as amended, which was declared effective by the Securities and Exchange Commission (the "SEC") on June 25, 2025. The offering is being made only by means of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov and a final prospectus relating to the offering will be filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC's website at http://www.sec.gov and may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.

About Lifeward Ltd.

Lifeward designs, develops, and commercializes life-changing solutions that span the continuum of care in physical rehabilitation and recovery, delivering proven functional and health benefits in clinical settings as well as in the home and community. Our mission at Lifeward is to relentlessly drive innovation to change the lives of individuals with physical limitations or disabilities. We are committed to delivering groundbreaking solutions that empower individuals to do what they love. The Lifeward portfolio features innovative products including the ReWalk Exoskeleton, the AlterG Anti-Gravity System, the ReStore Exo-Suit, and the MyoCycle FES System. Founded in 2001, Lifeward has operations in the United States, Israel, and Germany.

Lifeward®, ReWalk®, ReStore®, and Alter G® are registered trademarks of Lifeward Ltd. and/or its affiliates.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements may include statements related to the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering, the exercise of the ordinary warrants prior to their expiration and other statements that are not statements of historical fact and, in some cases, may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "should," "would," "seek" and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of Lifeward’s control. Important factors that could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements, including risks and uncertainties related to market conditions, are more fully discussed in the Company’s periodic filings with the SEC, including the risk factors described under the heading "Risk Factors" in the Company’s annual report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 7, 2025 and other documents subsequently filed with or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. Factors or events that could cause the Company’s actual results to differ from the statements contained herein may emerge from time to time, and it is not possible for the Company to predict all of them. Except as required by law, Lifeward undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Lifeward Media Relations:
Kathleen O’Donnell
Vice President, Marketing & New Business Development
Lifeward Ltd.
E: media@golifeward.com

Lifeward Investor Contact:
Mike Lawless
Chief Financial Officer
Lifeward Ltd.
E: ir@golifeward.com

FAQ

What is the size and price of Lifeward's (LFWD) public offering in June 2025?

Lifeward is offering 4,000,000 ordinary shares with accompanying warrants at a combined price of $0.65 per share and warrant, totaling $2.6 million.

What are the terms of LFWD's warrants in the June 2025 offering?

The warrants have an exercise price of $0.65, are immediately exercisable upon issuance, and will expire after five years. If fully exercised, they could generate an additional $2.6 million.

How will Lifeward use the proceeds from its June 2025 offering?

Lifeward intends to use the net proceeds for continuing commercial efforts, working capital, and general corporate purposes.

When will Lifeward's June 2025 public offering close?

The offering is expected to close on or about June 26, 2025, subject to customary closing conditions.

Who is the placement agent for Lifeward's June 2025 offering?

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