Lifeward amends notes with Oramed, closes $5.58 million convertible note financing

Lifeward Ltd. disclosed in an 8-K dated June 30, 2026 that it entered into an Amended and Restated Senior Secured Convertible Note, Amended and Restated Common Warrant, and Amended and Restated Pre-Funded Warrant with Oramed Pharmaceuticals Inc. and certain investors. The amended note provides for pari passu treatment among the notes issued under the new agreement, revises certain mandatory redemption provisions and beneficial ownership limits, while the amended warrants revise only the beneficial ownership limitation provisions.¹

The same day, Lifeward signed a new Securities Purchase Agreement with certain investors and Oramed acting as collateral agent. That agreement closed on July 6, 2026, resulting in the issuance of $5,580,000.00 in senior secured convertible notes, along with accompanying warrants.¹ A second tranche of notes in the same $5,580,000.00 principal amount, with matching warrants, is also contemplated under the agreement.¹

Funding of the second tranche depends on customary closing conditions plus either a 150% increase in ReWalk Unit Sales measured in U.S. dollars over the trailing twelve months, or the company's share price reaching at least $13.80 across ten consecutive trading days before the additional closing date.¹

Each note matures three years from issuance and converts into ordinary shares at an initial price of $5.40 per share.¹ Interest accrues at 8.0% annually, rising to 15.0% upon a default.¹ The accompanying warrants are exercisable for up to 100% of the shares each note converts into, at the same $5.40 exercise price, and expire five years after issuance.¹

Shares issuable under the notes and warrants are capped at 19.99% of outstanding ordinary shares unless shareholders approve a higher limit.¹ Lifeward agreed to file a registration statement for the underlying shares within 30 days of the initial note's closing, aiming for SEC effectiveness within 45 days, or 75 days if the SEC opts to review the filing.¹ The offering was conducted under Securities Act exemptions for accredited investors, without general solicitation.¹