Ekso Bionics Completes Private Placement, Raising Approximately $5.9 Million

Ekso Bionics entered into securities purchase agreements with certain institutional and accredited investors for the purchase and sale of an aggregate of 5,852 shares of the Company's Series B Preferred Stock and warrants to purchase up to an aggregate of 355,960 shares of common stock of the Company in a private placement transaction. The shares of Preferred Stock will have a stated value of $1,000 per share and be convertible at any time and from time to time into an aggregate of 711,922 shares of common stock of the Company at a conversion price of $8.22 per share. The holders of the Preferred Stock will be entitled to vote together with the holders of the Company's common stock on an as-converted basis, subject to certain limitations. The Warrants will be exercisable at an exercise price of $8.22 per share and will expire five years from their initial exercise date, which shall be six months after the closing of the Private Placement. The exercise of the Warrants will be subject to certain limitations, including that the holder does not at the time of such exercise hold any shares of the Preferred Stock or the common stock into which such Preferred Stock had converted. The closing of the Private Placement is expected to occur on or about January 22, subject to the satisfaction of customary closing conditions. The gross proceeds to the Company from the Private Placement are expected to be approximately $5.9M, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes. Lake Street Capital Markets is acting as the exclusive placement agent for the Private Placement.