---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-004205"
form_type: "8-K"
ticker: "CHRN"
cik: "0001549084"
company_name: "EKSO BIONICS HOLDINGS, INC."
filed_at: "2026-02-17T23:59:59+00:00"
generated_at: "2026-05-16T02:25:07.098397+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Ekso to merge with Applied Digital Cloud in reverse merger; APLD to own ~97%, rename to ChronoScale

## Summary
- Exchange: Ekso issues 138.2M shares to APLD for 100% of Cloud; APLD expects ~97% ownership of combined company.
- Closing expected Q2 2026, subject to stockholder approval, SEC clearance, and minimum $15M cash condition including PIPE.
- Preliminary Q4 2025 revenue $3.0-3.1M, down from $5.1M YoY; gross margin ~52-53%; cash $1.2M as of Dec 31, 2025.
- Company used ~$4.3M net cash in operations in Q4 2025, vs $1.4M in Q4 2024; cash excludes Jan 2026 PIPE proceeds.
- Board to be chaired by Wes Cummins (APLD); other initial APLD designees: Jason Zhang, Ella Benson, Richard Nottenburg.

## SEC filing metadata
- accession: 0001437749-26-004205
- form_type: 8-K
- ticker: CHRN
- cik: 0001549084
- company_name: EKSO BIONICS HOLDINGS, INC.
- filed_at: 2026-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.02, 3.02, 3.03, 5.03, 5.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/0001437749-26-004205-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/ekso20260216_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-004205
- JSON: https://secwatch.observer/filing/0001437749-26-004205.json
- Plain text: https://secwatch.observer/filing/0001437749-26-004205.txt

## Source-grounded claims
- claim_id: 2986156314b8fbb020ad996a15c35c3604eb0e10
  claim: EKSO BIONICS HOLDINGS, INC.: Board approved Second Restated Articles, effective upon Closing, increasing authorized common shares from 141,428,571 to 290,000,000 and making other changes (effective 2026-02-14).
  evidence_excerpt: On February 14, 2026, the Board approved the Second Restated Articles, which will only become effective immediately prior to the Closing, subject to stockholder approval, and the Second Amended and Restated Bylaws (the “Second Restated Bylaws”), which will only become effective upon the Closing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/0001437749-26-004205-index.htm
- claim_id: 49078d2f8b5e9803e28be61dd94ad207d7d3d3aa
  claim: EKSO BIONICS HOLDINGS, INC.: Amendment No. 1 to Bylaws removes prohibition on stockholder action by written consent and revises record date provision to clarify applicability to meetings only (effective 2026-02-14).
  evidence_excerpt: On February 14, 2026, the Board adopted an amendment (“Amendment No. 1”) to the Company’s amended and restated by-laws (the “Bylaws”) to align certain provisions of the Bylaws with Nevada law by (i) removing the provision of the Bylaws prohibiting stockholder action by written consent, and (ii) revising the record date provision to clarify that such provision is only applicable to meetings of stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/0001437749-26-004205-index.htm
- claim_id: be9a731ac3b8e291ab171cbe2b568086f4542007
  claim: EKSO BIONICS HOLDINGS, INC.: Second Restated Bylaws introduce new provisions effective upon Closing, including quorum requirements, written consent rules, board quorum, amendment provisions, and no cumulative voting (effective 2026-02-14).
  evidence_excerpt: On February 14, 2026, the Board approved the Second Restated Articles, which will only become effective immediately prior to the Closing, subject to stockholder approval, and the Second Amended and Restated Bylaws (the “Second Restated Bylaws”), which will only become effective upon the Closing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/0001437749-26-004205-index.htm
- claim_id: c75f22391fc4b9229c83280fd4e2b6c4a3b25b5c
  claim: EKSO BIONICS HOLDINGS, INC. entered into Contribution and Exchange Agreement with APLD Intermediate HoldCo LLC, APLD ChronoScale HoldCo LLC, and Applied Digital Cloud Corporation (effective 2026-02-15).
  evidence_excerpt: On February 15, 2026, Ekso Bionics Holdings, Inc., a Nevada corporation (“Ekso” or the “Company”), entered into a Contribution and Exchange Agreement (the “Contribution and Exchange Agreement”) with APLD Intermediate HoldCo LLC, a Delaware limited liability company (“APLD Intermediate”), APLD ChronoScale HoldCo LLC, a Delaware limited liability company and a wholly owned subsidiary of APLD Intermediate (“Contributor”), each a wholly owned direct or indirect subsidiary of Applied Digital Corporation, a Nevada corporation (“APLD”), and Applied Digital Cloud Corporation, a Nevada corporation, which at the time of the Closing (as defined below), will be a wholly owned subsidiary of Contributor (“Cloud”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549084/000143774926004205/0001437749-26-004205-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.