MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILIT, Israel, Jan. 06, 2021 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (Nasdaq:RWLK) today announced that it has repaid in full the outstanding balance on its credit line from Kreos Capital V (Expert Fund) Limited. The final payment was made on December 29, 2020 and discharged all of the Company’s obligations to Kreos.
ReWalk and Kreos entered into an agreement to establish the line of credit at the end of 2015, and ReWalk drew down an initial tranche of $12 million at the beginning of 2016. Further drawdown provided the company an additional $8M of funds for a total loan amount of $20M.
About ReWalk Robotics Ltd.
ReWalk Robotics Ltd. develops, manufactures, and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke. ReWalk’s mission is to fundamentally change the quality of life for individuals with lower limb disability through the creation and development of market leading robotic technologies. Founded in 2001, ReWalk has headquarters in the U.S., Israel, and Germany. For more information on the ReWalk systems, please visit www.rewalk.com.
