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InspireMD, ReWalk Robotics decline on stock offering

Two Israeli firms – InspireMD (NYSE: NSPR) and ReWalk Robotics (NASDAQ: RWLK) – saw their shares fall during the pre-market hours of Thursday on announcements of their respective stock offerings.

Shares of Tel Aviv-based InspireMD plunged 30% during morning trade after the company priced its public offering of 486,957 common stock at $5 apiece. The company, which makes Carotid Embolic Prevention System, expects $2.4 million in net proceeds from the offering, which will close on April 8, 2019.

The company has lost 86% of its value in the trailing 52 weeks. For the year-to-date period, the stock is down 12%.

READ: LYFT AND SIX OTHER COMPANIES WENT PUBLIC IN MARCH. FULL LIST

Meanwhile, ReWalk Robotics stock slipped 3% during the pre-market hours after the prosthetics firm said it would offer about 816,914 ordinary shares at a purchase price of $5.2025 apiece in a registered direct offering.

ReWalk will also issue unregistered warrants to buy about 408,457 ordinary shares, with a term of 5.5 years and exercise price of $5.14 per ordinary share.

The company, which makes wearable robotic exoskeletons for individuals with lower limb disabilities, expects gross proceeds of approximately $4.25 million. The offering is expected to close on April 8.

The stock is down 80% in the trailing 52 weeks. For the year-to-date period, the stock is up 6.2%.

 

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