ReWalk Robotics to acquire AlterG for ~$19M cash; expected close Aug 11, 2023

Lifeward Ltd.

Cash purchase price of ~$19M subject to customary adjustments; earnouts based on AlterG's future revenue growth.
AlterG generated $20M revenue in FY2022 with positive operating profit.
AlterG CEO Charles Remsberg to join ReWalk as Chief Sales Officer post-closing.
Transaction expected to close on August 11, 2023, subject to customary conditions.
Combined company aims to expand rehabilitation product portfolio and accelerate path to profitability.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lifeward Ltd. entered into Agreement and Plan of Merger with AlterG, Inc. valued at approximately $19.0 million in cash (effective 2023-08-08).

Action: entry
Agreement: merger
Counterparty: AlterG, Inc.
Value: approximately $19.0 million in cash
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, ReWalk Robotics, Inc. (“RRI”), a wholly owned subsidiary of ReWalk Robotics Ltd. (the “Company”), entered into an Agreement and Plan of Merger (the “Agreement”) with AlterG, Inc. (“AlterG”), Atlas Merger Sub, Inc., a wholly owned subsidiary of RRI (“Merger Sub”), and Shareholder Representative Services LLC, solely in its capacity as representative, agent and attorney-in-fact of the securityholders of AlterG, pursuant to which, Merger Sub will merge with and into AlterG, with AlterG continuing as the surviving corporation and a wholly owned subsidiary of RRI (the “Acquisition”).

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280 material agreements filed in the last 30 days. Browse all material agreements →

Lifeward Ltd. filing history →

Source: SEC EDGAR

accession 0001178913-23-002776

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