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ReWalk Robotics Announces Pricing of $7.0 Million Public Offering

ReWalk Robotics Ltd announced the pricing of a public offering of 5,600,000 units at a price to the public of $1.25 per unit, for gross proceeds of $7.0 million, before deducting placement agent fees and other estimated offering expenses payable by ReWalk. Each unit contains one ordinary share (or ordinary share equivalent) and one common warrant to purchase one ordinary share. The ordinary shares (or ordinary share equivalents) and common warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about February 10, 2020, subject to customary closing conditions.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Each common warrant has an exercise price of $1.25 per share, is exercisable immediately and will expire five years from the date of issuance.

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ReWalk intends to use the net proceeds from the offering for (i) sales, marketing and reimbursement expenses related to market development activities of the ReStore device and broadening third-party payor coverage for the ReWalk Personal device, (ii) research and development costs related to developing the Company’s lightweight exo-suit technology for various lower limb disabilities, including stroke and other indications affecting the ability to walk as well as continued development of its spinal cord injury device, and (iii) general corporate purposes.

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The offering is being made under an effective registration statement on Form S-1 (File No. 333-235932) filed with the Securities and Exchange Commission (the “SEC”) and declared effective on February 5, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. The final terms of the offering will be disclosed in a final prospectus to be filed with the SEC and made available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus, when available, may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996 or by email at  placements@hcwco.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities discussed in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of the preliminary and final prospectus forming a part of the effective registration statement.

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