ReWalk IPO likely this Friday

We’ve written before about the much-hyped ReWalk exoskeleton and how it may–or may not–be a boon to disabled seniors. According to IPOScoop.com, it is likely to have its IPO tomorrow (9/12/14), under the ticker symbol RWLK on the NASDAQ exchange. It is predicted to sell 3.5 million shares on its opening day for $13-16 each.

logo_nasdaq_lgAccording to the Boston Business Journal, “As of July, the company said there were 60 ReWalk Rehabilitation [for clinical settings] and 18 ReWalk Personal systems in use.” Also, according to the Journal, the IPO, in which ReWalk hopes to raise nearly $60 million, is critical to the company’s continued existence. They quote its Securities and Exchange Commission filing which stated, “Without additional capital, from this offering or otherwise, we may run out of cash in the second half of 2014, which has raised a substantial doubt about our ability to continue as a going concern.”

For our readers who invest, we have only two words: due diligence.