Ekso Bionics SEC Filings

Ekso Bionics (EKSO) is offering 769,490 shares of common stock at $4.81 per share under a prospectus supplement filed pursuant to Rule 424(b)(5). The offering totals $3,701,246.90 in gross proceeds. The placement agent fee is 6.0% ($222,074.82), resulting in $3,479,172.08 in proceeds before expenses and an estimated ~$3.2 million in net proceeds. Shares are expected to be delivered on or about October 30, 2025.

The company intends to use the net proceeds for general corporate purposes, including R&D, SG&A, strategic initiatives, and working capital. Shares outstanding will be 3,392,723 after the offering, based on 2,623,233 shares outstanding as of October 24, 2025. The offering was arranged by Lake Street Capital Markets as sole placement agent, which will also receive a Placement Agent Warrant to purchase up to 15,389 shares at $4.81.

As context, the filing notes Form S-3 I.B.6 limitations, citing a public float of approximately $14.3 million as of October 28, 2025, and prior sales of $1,008,975 in the preceding 12 months. The dilution section estimates $1.33 per share immediate dilution to new investors at the offering price.

Ekso Bionics Holdings, Inc. terminated its at‑the‑market offering program under its prior prospectus. The company previously sold 275,245 shares of common stock under that program, and the termination does not otherwise impact the sales agreement with H.C. Wainwright & Co.

As of October 28, 2025, the company’s public float was approximately $14.3 million, based on 2,623,233 shares outstanding (2,555,564 held by non‑affiliates) and a $5.60 per share closing price on October 3, 2025. Under General Instruction I.B.6 of Form S‑3, the company sold $1,008,975 during the prior 12 months and is eligible to offer and sell up to approximately $3,761,411 of securities pursuant to that instruction. The common stock last traded at $4.92 on Nasdaq on October 27, 2025.

Ekso Bionics (EKSO) filed its Q3 2025 10‑Q, reporting modest top‑line growth and continued losses amid liquidity pressure. Revenue was $4,227, up slightly from $4,129 a year ago, with gross profit of $2,549 and a net loss of $1,421. Operating loss narrowed to $1,402 from $2,639 as sales and marketing and R&D expenses declined.

Cash was $2,722 as of September 30, 2025. The company retired its $2,000 Banc of California term loan using previously restricted cash and entered a secured promissory note with B. Riley for up to $2,000 at 10% interest plus a $200 exit fee, recorded as a convertible promissory note, net of $1,937. Management disclosed substantial doubt about continuing as a going concern for one year after issuance and estimates cash will fund operations into the first quarter of 2026 while pursuing financings and cost actions.

Year‑to‑date revenue was $9,659 versus $12,835 last year. Deferred revenue totaled $3,331, and the company reported a non‑cancellable backlog of $3,466 expected across 2025–2026. Shares outstanding were 2,623,233 as of October 27, 2025.

Ekso Bionics Holdings, Inc. furnished an update on its financial results for the three and nine months ended September 30, 2025. The company disclosed the results under Item 2.02 and attached a press release as Exhibit 99.1, which is incorporated by reference. The information is being furnished and is not deemed filed under the Exchange Act.

Ekso Bionics Holdings, Inc. entered a Secured Promissory Note and Security Agreement with B. Riley Commercial Capital, LLC providing a secured term loan facility of up to $2.0 million to be used for working capital and general corporate purposes. Borrowings accrue interest at 10.0% per annum payable at maturity and the company will owe an Exit Fee equal to 10% of original principal ($200,000) if the loan matures. The loan matures upon the earlier of a Qualified Financing raising $2.4 million net proceeds or September 14, 2026. The lender may convert outstanding obligations into equity in connection with a Qualified Financing. The obligations are guaranteed by Ekso Bionics, Inc. and secured by substantially all personal property, and the agreement includes customary covenants, events of default and a potential default interest of +5.0% per annum above the base rate. The company simultaneously repaid and terminated its prior $2.0 million loan agreement with Banc of California.

Armistice Capital, LLC and Steven Boyd report shared beneficial ownership of 289,876 shares of Ekso Bionics Holdings, Inc., representing 9.99% of the outstanding common stock. Both reporting persons state they possess shared voting and dispositive power over these shares and no sole voting or dispositive power. Armistice Capital is the investment manager of the Armistice Capital Master Fund Ltd., which directly holds the reported shares, and the Master Fund retains the right to receive dividends or sale proceeds. The Master Fund disclaims beneficial ownership under its investment management agreement to the extent it cannot vote or dispose of the securities.