Lifeward Ltd. (NASDAQ: LFWD) Announces New Secured Promissory Note with Oramed Pharmaceuticals
Lifeward Ltd. (NASDAQ: LFWD), formerly known as ReWalk Robotics Ltd., has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) disclosing the entry into a significant new financial agreement. This recent development is likely to be of interest to shareholders and investors, as it could have material implications on the company’s financial position and future prospects.
Key Points from the SEC Filing
- Material Definitive Agreement: On February 12, 2026, Lifeward Ltd. entered into a new Secured Promissory Note (the “Subsequent Secured Promissory Note”) with Oramed Pharmaceuticals, Inc. (“Oramed”).
- Existing Financial Obligation: This is in addition to a previous Secured Promissory Note (the “Initial Secured Promissory Note”) with Oramed Ltd., under which Lifeward had already issued a secured note for \$3.0 million. The principal on this note remains outstanding.
- Collateral and Security: Both the Initial and Subsequent Secured Promissory Notes are secured, and any proceeds from collateral will be allocated on a ratable basis between these obligations. This means Oramed’s security interest covers both the existing and the new loan.
- Potential Remedies for Oramed: Oramed has contractual rights to terminate its commitments under the Subsequent Secured Promissory Note and exercise additional legal remedies if certain conditions are met.
- Disclosure of Financial Obligation: The creation of this new direct financial obligation is being formally reported under Item 2.03 of Form 8-K, underscoring its importance to the company’s financial standing.
- Filing of Full Agreement: Lifeward Ltd. states that the full text of the Subsequent Secured Promissory Note will be filed as an exhibit to its Annual Report on Form 10-K for the year ended December 31, 2025.
Important Shareholder Considerations
- Leverage and Liquidity: The issuance of a new secured promissory note increases Lifeward’s leverage. Investors should consider the impact of additional debt on the company’s balance sheet and future cash flows.
- Security Interest: The notes are secured, and in the event of default, Oramed would have a claim on specified company assets. This could affect the recovery prospects for other creditors and shareholders in a downside scenario.
- Relationship with Oramed: The company’s repeated use of Oramed for financing signals an ongoing relationship, which could be positive in terms of support but may also indicate reliance on external funding to meet operational or strategic needs.
- Potential Price Sensitivity: Investors should note that entering into secured debt arrangements can be price-sensitive, especially if the market perceives the company’s liquidity position as tight or if there are concerns about its ability to service debt. Additionally, the terms of the collateral and any covenants (not disclosed in full yet) may have further implications for shareholder value.
- Emerging Growth Company Status: Lifeward Ltd. is no longer an emerging growth company, meaning it may face increased regulatory requirements and associated costs.
Company Snapshot
- Exchange: NASDAQ Capital Market
- Ticker Symbol: LFWD
- Business Address: 200 Donald Lynch Blvd., Marlborough, MA 01752
- Reporting Date: February 12, 2026
- Filing Date: February 19, 2026
- Chief Financial Officer Signing the Filing: Almog Adar
What’s Next?
The full details of the Subsequent Secured Promissory Note—including interest rate, maturity, collateral specifics, and covenants—are expected to be published in the company’s upcoming 10-K filing. Investors are encouraged to review these details upon release for a complete understanding of Lifeward’s financial obligations and risks.
Disclaimer:
This article is based on information disclosed in Lifeward Ltd.’s Form 8-K filing with the SEC as of February 19, 2026. The content is intended for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with financial advisors before making decisions related to securities mentioned herein. The company’s future performance may be influenced by a range of factors not fully addressed in this summary.
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