The top-performing IPO in the third quarter was a dark horse, but with powerful legs. The ReWalk Robotics (RWLK) IPO seemed like it would be an underachiever, but one with a good story. The company makes exoskeletons that enable paraplegics to walk. It priced at 12, below its estimated range of 14 to 16, and opened at 12, suggesting modest enthusiasm. But ReWalk bolted 113% on its first trading day, the quarter’s only IPO to double on day one.
ReWalk says that a major German insurance company has become the first insurer to reimburse a client for the company’s robotic exoskeleton, which is designed to allow disabled people to walk with assistance from the device. The client is a paraplegic man who had been using a wheelchair since a car accident in 1999, the Israel-based ReWalk (RWLK) said. After an eligibility review, he received approval from the unnamed insurer. ReWalk says that it’s
ReWalk Robotics (RWLK) stock rose 45% Monday on the heels of its eye-popping IPO Friday that joined an exclusive group. ReWalk was the fifth initial public offering this year to fly 100% or more on its first day of trading and the only IPO since 2000 to do so after pricing below its estimated range, according to Renaissance Capital. Stock in the Israeli maker of wearable robotic exoskeletons more than doubled on Friday after pricing at 12, below