Crowdfunding platform OurCrowd’s portfolio company ReWalk Robotics has completed its initial public offering (IPO) on the Nasdaq.
The company issued 3,450,000 million shares and expects to receive total estimated net proceeds from this offering of approximately USD36.3 million after deducting estimated underwriting discounts and commissions and estimated offering expenses.
OurCrowd members had previously invested USD3.3 million in ReWalk in two separate funding rounds over the past year. OurCrowd had invested alongside leading VCs, such as Pontifax, Israel Health Care Ventures, SCP Vitalife and the Japanese Robotics giant YASKAWA.
OurCrowd's chief executive Jon Medved says: "OurCrowd is proud of ReWalk and this important achievement. We have now demonstrated that equity crowdfunding can provide an opportunity for individual accredited investors to fund the best of companies. This offering marks the first time an equity crowdfunding platform has accompanied a company over the full cycle, from venture funding through to an IPO on a major US exchange. Moreover, it is truly gratifying to invest in successful companies that dramatically change people’s lives for the better.”
ReWalk chief executive Larry Jasinski says: “I have enjoyed the professional and comprehensive approach of OurCrowd and its investors and believe they have added value to our efforts.”
