Ekso Bionics Completes Acquisition by Private Equity Firm

Ekso Bionics Holdings, Inc., a developer of exoskeleton technology, disclosed on May 5, 2026, that it has completed its acquisition by Apex Mobility Partners, a private equity firm focused on healthcare robotics, per the company's SEC Form 8-K filing.

The deal affects Ekso's 1,200 shareholders and its workforce of approximately 150 employees, based on the company's most recent annual report. The $120 million consideration, paid entirely in unregistered equity securities of the acquirer, values Ekso at about $4.50 per share, a 25% premium over its average trading price in the prior quarter, according to the filing's Item 3.02 details.

Ekso's product lines, including medical and industrial exoskeletons used by over 500 rehabilitation centers worldwide, now fall under new ownership.

Prior to the transaction, Ekso operated as an independent public company with its own board and management structure. The acquisition, detailed in Item 2.01, closed on May 4, 2026, following entry into a material definitive agreement on April 15, 2026, as reported in Item 1.01.

This shifts control to Apex Mobility Partners, which now holds a majority stake through the stock issuance. Item 5.01 specifies the change in control occurred via the merger mechanism, leading to amendments in Ekso's articles of incorporation and bylaws under Item 5.03, which modify shareholder voting rights and eliminate certain anti-takeover provisions per Item 3.03.

Additionally, Item 5.02 notes the departure of CEO Steven Sherman effective May 5, 2026, with no cited cause, and the election of Apex executive Maria Gonzalez as the new CEO. The filing also reports a change in certifying accountant under Item 4.01, replacing Deloitte with PwC effective immediately.

On the financial side, Item 2.02 reveals first-quarter 2026 revenue of $5.2 million, up 12% year-over-year, with a net loss of $3.1 million.

The change activates several operational timelines: Ekso must file a Form 10-Q within 45 days incorporating the new financial structure, per standard SEC rules. Apex Mobility, as the new controlling entity, assumes responsibility for future compliance filings, and the deal's exhibits under Item 9.01 include the merger agreement, which mandates integration of Ekso's operations within 90 days, potentially affecting supplier contracts worth $10 million annually as outlined in the agreement.

Shareholders will receive proxy materials for a special meeting by June 15, 2026, to vote on further bylaw changes.

Ekso previously reported a similar asset disposition in 2024, selling a non-core patent portfolio for $15 million. The company, which went public in 2014, has focused on exoskeleton devices for mobility assistance since its founding in 2005.