Jul. 8 at 1:37 AM
Lifeward announced it has raised
$5.6 million through a private placement of senior secured convertible notes and warrants, with the potential to receive an additional
$5.6 million upon achieving certain commercial milestones. The financing, completed under a securities purchase agreement signed on July 6, is part of the company's broader strategic funding partnership with Oramed Pharmaceuticals.
The second funding tranche will become available if Lifeward increases ReWalk unit sales by 150% compared with the prior 12 months or if its shares trade at or above
$13.80 for 10 consecutive trading days. CEO Mark Grant said the capital will support the commercialization of the company's restorative healthcare platform, including expanding its reimbursement-backed distribution model and advancing its product pipeline.
The transaction expands Lifeward's financing framework with Oramed, which provides access to up to
$47 million in total funding.
$LFWD