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Investing.com -- Lifeward Ltd. (NASDAQ:LFWD) stock plummeted 44% after the medical technology company announced the pricing of a public offering that will dilute existing shareholders.
The company priced a public offering of 4 million ordinary shares and accompanying warrants at $0.65 per share, representing a significant discount to its previous trading price. The warrants will allow holders to purchase up to an additional 4 million ordinary shares at the same $0.65 exercise price.
Lifeward expects to raise approximately $2.6 million in gross proceeds from the offering before deducting placement agent fees and other expenses. The company could potentially receive an additional $2.6 million if all warrants are exercised, though there is no guarantee this will occur.
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to close around June 26, 2025, pending customary closing conditions.
The company, which develops medical technology for people with physical limitations or disabilities, plans to use the proceeds to support its ongoing commercial efforts, working capital, and general corporate purposes.
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