Ekso Bionics (EKSO) Registration Filing summary

Company overview and business model

• Designs, develops, and markets exoskeleton products for augmenting human strength, endurance, and mobility, serving both clinical and industrial markets.

• Main revenue comes from the EksoHealth segment, focused on neurorehabilitation products for hospitals, clinics, and individual users.

• Ekso Indego Personal product received Medicare reimbursement approval in April 2024, expanding access for individual users.

• EksoWorks segment targets industrial ergonomic challenges, with the EVO product aimed at sectors like aerospace, automotive, and construction.

Financial performance and metrics

• As of June 30, 2024, had $5.9 million in cash and equivalents, and $12.1 million in stockholders' equity.

• Net tangible book value per share was $0.37 before the offering and $0.51 after, with immediate dilution of $0.62 per share to new investors at the assumed $1.13 offering price.

• Company has incurred significant losses to date and anticipates continued losses, with a history of financing operations through equity and debt.

Use of proceeds and capital allocation

• Estimated net proceeds of $5.3 million, assuming no pre-funded units are issued and based on a $1.13 per unit offering price.

• Proceeds intended for general corporate purposes, including growth and expansion of the EksoHealth segment, R&D, SG&A costs, strategic initiatives (including potential acquisitions), and working capital.

• Management retains broad discretion over use of proceeds, which may not yield a return or align with investor preferences.