ReWalk Raises $36M In NASDAQ IPO

September 14, 2014 | The Israeli company ReWalk Robotics had its IPO on Friday, raising a total of $36 million on NASDAQ. The company developed exoskeletons that enable paraplegics to walk, a tool recently approved by the Food & Drug Administration in the US. The company sold 3 million shares at $12 each with a company value of $136 million. The money raised came as a disappointment because the company expected to raise $58 million at a company value of $250-300 million, after money. However, against the company’s expectations, the IPO share price doubled, rising 113 percent to $25.60 on the first day of trading, reaching $26.90 in after market trading. ReWalk was founded in 2001 by Dr. Amit Goffer, the previous founder of Odin, which sold to Medtronic for $9 million.