Ekso Bionics shares drop amid merger investigation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 21 2025
0mins
Should l Buy EKSO?
Source: Investing
Ekso Bionics Holdings Inc shares fell by 9.95% today, crossing below the 5-day SMA, reflecting investor concerns regarding the company's future amid ongoing scrutiny.
The decline is attributed to a merger investigation by Halper Sadeh LLC, which is looking into potential violations of federal securities laws related to Ekso's merger with Applied Digital Cloud. This investigation raises significant risks to shareholder rights, contributing to negative sentiment around the stock despite the proposed merger's potential benefits.
As the merger process unfolds, investors are likely to remain cautious, weighing the implications of the investigation against the anticipated advantages of the merger, which aims to create a high-performance compute platform for AI workloads.
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Analyst Views on EKSO
About EKSO
Ekso Bionics Holdings, Inc. designs, develops, and markets exoskeleton products. Its exoskeleton technology serves people with physical disabilities or impairments in both physical rehabilitation and mobility. It operates as one segment with two markets: Enterprise Health and Personal Health. Its products include EksoNR, which is a wearable robotic exoskeleton designed for a rehabilitation setting; Ekso Indego Therapy is a modular, adjustable, lightweight, lower limb-powered exoskeleton; Ekso Indego Personal is a lower limb orthosis; Ekso Nomad is a power Knee Ankle Foot Orthosis, and Ekso EVO is a wearable upper body exoskeleton. It enables individuals with neurological conditions affecting gait, including acquired brain injury (ABI) and spinal cord injury (SCI), to rehabilitate, stand and walk again. Additionally, the devices assist people with a variety of upper extremity disabilities and enable industrial employees to perform challenging repetitive tasks for extended periods.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ekso Bionics (EKSO) Completes Private Placement of 5,852 Preferred Shares Raising $5.9 Million
- Private Placement Agreement: Ekso Bionics entered into securities purchase agreements on January 20, 2026, with institutional and accredited investors for a private placement of 5,852 shares of Series B preferred stock and warrants to purchase 360,000 common shares, expecting to raise $5.9 million for working capital and general corporate purposes.
- Preferred Stock Conversion Terms: Each preferred share has a stated value of $1,000 and can be converted into common stock at any time at $8.22 per share, representing a total potential conversion into 710,000 common shares, enhancing investor return potential.
- Warrant Details: The warrants will become exercisable six months after closing at $8.22 per share and will expire five years thereafter, providing an investment opportunity should the stock price rise in the future.
- Market Reaction: Despite the financing announcement, Ekso Bionics' stock price fell by 7.22%, reflecting market caution regarding the company's future prospects, which may impact the effectiveness of the financing.
See More
Ekso Bionics Secures $5.9 Million in Private Placement of 5,852 Shares of Preferred Stock
- Financing Size: On January 20, 2026, Ekso Bionics entered into agreements with institutional investors to sell 5,852 shares of Preferred Stock, expected to raise $5.9 million, enhancing the company's liquidity to support operations.
- Preferred Stock Conversion: Each Preferred Stock has a stated value of $1,000 and a conversion price of $8.22 per share, potentially converting into 711,922 shares of common stock, thereby increasing shareholder equity and market appeal.
- Warrant Terms: The transaction also includes warrants for 355,960 shares of common stock, with an exercise price of $8.22, valid for five years, enhancing potential returns for investors.
- Transaction Timeline: The private placement is expected to close around January 22, 2026, subject to customary closing conditions, ensuring timely access to funds to support the company's strategic development.
See More
Halper Sadeh Investigates Ventyx and Sun Country Transactions for Shareholder Rights
- Ventyx Transaction Investigation: Halper Sadeh LLC is investigating the sale of Ventyx Biosciences, Inc. to Eli Lilly for $14.00 per share, potentially indicating breaches of fiduciary duties affecting shareholder rights.
- Sun Country Transaction Review: The sale of Sun Country Airlines Holdings, Inc. to Allegiant Travel Company involves 0.1557 shares of Allegiant common stock and $4.10 in cash per share, with Halper Sadeh LLC assessing the implications for shareholders.
- EKSO Merger Focus: The merger of EKSO Bionics Holdings, Inc. with Applied Digital Cloud is also under scrutiny by Halper Sadeh, as it may impact shareholder interests, prompting shareholders to understand their legal rights.
- Legal Service Commitment: Halper Sadeh LLC offers contingent fee legal services to shareholders, aiming to secure increased consideration and additional disclosures for affected investors, ensuring their rights are protected.
See More
Applied Digital Reports 250% Revenue Growth and Negotiates 900MW Data Center Capacity
- Significant Revenue Growth: Applied Digital's fiscal Q2 revenue surged 250% to $126.6 million, primarily driven by strong performance in its high-performance computing business, which is expected to fuel future high-margin growth.
- Data Center Expansion Plans: The company is in advanced discussions with multiple large cloud providers to secure 900 megawatts of data center capacity over the next few years, which will significantly enhance its market position and revenue potential.
- Improved Profitability: Although adjusted net income was only $0.1 million, EBITDA soared from $6.1 million a year ago to $20.2 million, indicating progress in cost control and operational efficiency.
- Financial Condition Analysis: With $1.9 billion in cash and $2.6 billion in debt, Applied Digital's negative cash flow raises concerns, yet its financing capabilities provide assurance for future expansions, prompting investors to carefully weigh risks against potential rewards.
See More
Applied Digital Reports 250% Revenue Growth and Negotiates 900MW Capacity with Cloud Giants
- Revenue Surge: Applied Digital reported a remarkable 250% revenue growth in its fiscal second quarter, reaching $126.6 million, with its high-performance computing segment contributing $85 million, indicating a robust competitive position in the AI infrastructure market.
- Client Expansion: The company is in advanced discussions with multiple large cloud providers for 900 megawatts of data center capacity, which will not only enhance its market share but also lay the groundwork for future high-margin growth.
- Financial Position: Despite reporting an adjusted net income of $0.1 million and a negative free cash flow of $899.4 million, the company maintains a strong cash reserve of $1.9 billion, demonstrating financial resilience amid high capital expenditures.
- Future Outlook: Applied Digital plans to ramp up its high-performance computing capacity from 100 megawatts to 400 megawatts by 2027, which is expected to drive significant future growth, although the high-risk capital expenditures require careful management.
See More
Applied Digital Expected to Report $89.76 Million Revenue in Q2 2026
- Revenue Growth Expectation: Applied Digital is projected to report $89.76 million in Q2 revenue, reflecting over a 40% increase from last year's $63.87 million, indicating significant revenue recognition from its AI data centers and tenant fit-out services.
- Core Partnership Expansion: CoreWeave's lease expansion to 400 MW at the Ellendale, ND campus, valued at approximately $11 billion, is expected to start generating lease revenue by late 2025 or early 2026, which will provide substantial cash flow for Applied Digital.
- Cloud Business Spin-off: The announcement of merging its cloud business with Ekso Bionics to form ChronoScale raises investor interest in how this strategic separation will allow Applied Digital to focus on its “AI Factory” data center operations, potentially enhancing operational efficiency.
- Financing and Liquidity: Recently securing a development loan facility from Macquarie Group to support new AI campuses, management's insights on capital costs and future funding needs will be critical for analysts, especially given the capital-intensive nature of hyperscale data center construction.
See More
Ekso Bionics (EKSO) Completes Private Placement of 5,852 Preferred Shares Raising $5.9 Million
- Private Placement Agreement: Ekso Bionics entered into securities purchase agreements on January 20, 2026, with institutional and accredited investors for a private placement of 5,852 shares of Series B preferred stock and warrants to purchase 360,000 common shares, expecting to raise $5.9 million for working capital and general corporate purposes.
- Preferred Stock Conversion Terms: Each preferred share has a stated value of $1,000 and can be converted into common stock at any time at $8.22 per share, representing a total potential conversion into 710,000 common shares, enhancing investor return potential.
- Warrant Details: The warrants will become exercisable six months after closing at $8.22 per share and will expire five years thereafter, providing an investment opportunity should the stock price rise in the future.
- Market Reaction: Despite the financing announcement, Ekso Bionics' stock price fell by 7.22%, reflecting market caution regarding the company's future prospects, which may impact the effectiveness of the financing.
See More
Ekso Bionics Secures $5.9 Million in Private Placement of 5,852 Shares of Preferred Stock
- Financing Size: On January 20, 2026, Ekso Bionics entered into agreements with institutional investors to sell 5,852 shares of Preferred Stock, expected to raise $5.9 million, enhancing the company's liquidity to support operations.
- Preferred Stock Conversion: Each Preferred Stock has a stated value of $1,000 and a conversion price of $8.22 per share, potentially converting into 711,922 shares of common stock, thereby increasing shareholder equity and market appeal.
- Warrant Terms: The transaction also includes warrants for 355,960 shares of common stock, with an exercise price of $8.22, valid for five years, enhancing potential returns for investors.
- Transaction Timeline: The private placement is expected to close around January 22, 2026, subject to customary closing conditions, ensuring timely access to funds to support the company's strategic development.
See More
Halper Sadeh Investigates Ventyx and Sun Country Transactions for Shareholder Rights
- Ventyx Transaction Investigation: Halper Sadeh LLC is investigating the sale of Ventyx Biosciences, Inc. to Eli Lilly for $14.00 per share, potentially indicating breaches of fiduciary duties affecting shareholder rights.
- Sun Country Transaction Review: The sale of Sun Country Airlines Holdings, Inc. to Allegiant Travel Company involves 0.1557 shares of Allegiant common stock and $4.10 in cash per share, with Halper Sadeh LLC assessing the implications for shareholders.
- EKSO Merger Focus: The merger of EKSO Bionics Holdings, Inc. with Applied Digital Cloud is also under scrutiny by Halper Sadeh, as it may impact shareholder interests, prompting shareholders to understand their legal rights.
- Legal Service Commitment: Halper Sadeh LLC offers contingent fee legal services to shareholders, aiming to secure increased consideration and additional disclosures for affected investors, ensuring their rights are protected.
See More
Applied Digital Reports 250% Revenue Growth and Negotiates 900MW Data Center Capacity
- Significant Revenue Growth: Applied Digital's fiscal Q2 revenue surged 250% to $126.6 million, primarily driven by strong performance in its high-performance computing business, which is expected to fuel future high-margin growth.
- Data Center Expansion Plans: The company is in advanced discussions with multiple large cloud providers to secure 900 megawatts of data center capacity over the next few years, which will significantly enhance its market position and revenue potential.
- Improved Profitability: Although adjusted net income was only $0.1 million, EBITDA soared from $6.1 million a year ago to $20.2 million, indicating progress in cost control and operational efficiency.
- Financial Condition Analysis: With $1.9 billion in cash and $2.6 billion in debt, Applied Digital's negative cash flow raises concerns, yet its financing capabilities provide assurance for future expansions, prompting investors to carefully weigh risks against potential rewards.
See More
Applied Digital Reports 250% Revenue Growth and Negotiates 900MW Capacity with Cloud Giants
- Revenue Surge: Applied Digital reported a remarkable 250% revenue growth in its fiscal second quarter, reaching $126.6 million, with its high-performance computing segment contributing $85 million, indicating a robust competitive position in the AI infrastructure market.
- Client Expansion: The company is in advanced discussions with multiple large cloud providers for 900 megawatts of data center capacity, which will not only enhance its market share but also lay the groundwork for future high-margin growth.
- Financial Position: Despite reporting an adjusted net income of $0.1 million and a negative free cash flow of $899.4 million, the company maintains a strong cash reserve of $1.9 billion, demonstrating financial resilience amid high capital expenditures.
- Future Outlook: Applied Digital plans to ramp up its high-performance computing capacity from 100 megawatts to 400 megawatts by 2027, which is expected to drive significant future growth, although the high-risk capital expenditures require careful management.
See More
Applied Digital Expected to Report $89.76 Million Revenue in Q2 2026
- Revenue Growth Expectation: Applied Digital is projected to report $89.76 million in Q2 revenue, reflecting over a 40% increase from last year's $63.87 million, indicating significant revenue recognition from its AI data centers and tenant fit-out services.
- Core Partnership Expansion: CoreWeave's lease expansion to 400 MW at the Ellendale, ND campus, valued at approximately $11 billion, is expected to start generating lease revenue by late 2025 or early 2026, which will provide substantial cash flow for Applied Digital.
- Cloud Business Spin-off: The announcement of merging its cloud business with Ekso Bionics to form ChronoScale raises investor interest in how this strategic separation will allow Applied Digital to focus on its “AI Factory” data center operations, potentially enhancing operational efficiency.
- Financing and Liquidity: Recently securing a development loan facility from Macquarie Group to support new AI campuses, management's insights on capital costs and future funding needs will be critical for analysts, especially given the capital-intensive nature of hyperscale data center construction.
See More
