8-K filed December 5, 2022, 6:59 PM ET ticker CHRN CIK 0001549084

M&A confidence high sentiment positive materiality 0.75

EKSO BIONICS HOLDINGS, INC. (CHRN): M&A transaction — Ekso Bionics acquires Parker HMC business for $10M, appoints Scott Davis as CEO

EKSO BIONICS HOLDINGS, INC.

Acquired Parker Hannifin's Human Motion and Control business for $10M ($5M cash + $5M zero-coupon note payable quarterly over 4 years).
Acquisition includes Indego lower-limb exoskeleton line, expanding Ekso's product portfolio into home and community use markets.
Steven Sherman resigned as CEO; appointed Scott G. Davis (formerly President/COO) as CEO effective immediately.
Sherman remains Chairman and becomes Executive Chair under a one-year employment agreement with $125k salary and RSU grant.
Adds Vanderbilt University as a key commercial and research partner to support future product development.

item 2.01 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Steven Sherman

Executive Chair

CHRN · EKSO BIONICS HOLDINGS, INC.

Effective: 2022-12-05
Filed: December 5, 2022, 6:59 PM ET

Mr. Sherman will continue to serve as Chair of the Board and will begin serving as Executive Chair of the Company.

Appointed

Scott G. Davis

Chief Executive Officer and Principal Executive Officer

CHRN · EKSO BIONICS HOLDINGS, INC.

Effective: 2022-12-04
Filed: December 5, 2022, 6:59 PM ET

(ii) the Board appointed Scott G. Davis as Chief Executive Officer and Principal Executive Officer of the Company, each effective immediately.

Departed

Steven Sherman

Chief Executive Officer

CHRN · EKSO BIONICS HOLDINGS, INC.

Effective: 2022-12-04
Successor: Scott G. Davis
Filed: December 5, 2022, 6:59 PM ET

On December 4, 2022, in connection with the closing of the Acquisition, (i) Steven Sherman, the Company’s Chief Executive Officer and Chair of the Company’s board of directors (the “Board”), resigned as the Company’s Chief Executive Officer

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven Sherman was appointed as Executive Chair at EKSO BIONICS HOLDINGS, INC..

Action: appointed
Role: Executive Chair

Exact text from the filing

Mr. Sherman will continue to serve as Chair of the Board and will begin serving as Executive Chair of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott G. Davis was appointed as Chief Executive Officer and Principal Executive Officer at EKSO BIONICS HOLDINGS, INC..

Action: appointed
Role: Chief Executive Officer and Principal Executive Officer

Exact text from the filing

(ii) the Board appointed Scott G. Davis as Chief Executive Officer and Principal Executive Officer of the Company, each effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven Sherman resigned as Chief Executive Officer at EKSO BIONICS HOLDINGS, INC..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On December 4, 2022, in connection with the closing of the Acquisition, (i) Steven Sherman, the Company’s Chief Executive Officer and Chair of the Company’s board of directors (the “Board”), resigned as the Company’s Chief Executive Officer

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

EKSO BIONICS HOLDINGS, INC. completed an acquisition involving Parker Hannifin Corporation for $10 million (closed 2022-12-05).

Action: acquisition
Counterparty: Parker Hannifin Corporation
Consideration: $10 million
Closing: 2022-12-05

Exact text from the filing

partner to help power new product development. Ekso Bionics acquired all of Parker’s HMC global business assets in the U.S. and Europe for an aggregate purchase price of $10 million. Ekso paid $5 million at closing and delivered a $5 million subordinated, unsecured zero coupon note payable quarterly over four years, commencing December 31, 2023. “We are

View on SEC.gov

15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

EKSO BIONICS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001549084-22-000075

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