--- title: "Lifeward amends senior secured convertible notes tied to Oramed" url: "https://aibio.space/news/lifeward-amends-senior-secured-convertible-notes-tied-oramed/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-06-30" section: "Debt Financing" tickers: "NASDAQ:LFWD" source: "https://www.sec.gov/Archives/edgar/data/1607962/000117891326003429/zk2635657.htm" summary: "The notes carry 8.0% interest and a $5.40 conversion price. The second tranche depends on ReWalk sales growth or a share price of $13.80 or higher." --- By the aibio.space news desk. Sources - [Lifeward Ltd. 8-K (2026-07-07)](https://www.sec.gov/Archives/edgar/data/1607962/000117891326003429/zk2635657.htm) - [Lifeward Ltd. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1607962/000117891326001208/) [LFWD](https://aibio.space/companies/lifeward/) 2026-06-30 # Lifeward amends senior secured convertible notes tied to Oramed Tickers [LFWD](https://aibio.space/companies/lifeward/) The notes carry 8.0% interest and a $5.40 conversion price. The second tranche depends on ReWalk sales growth or a share price of $13.80 or higher. ## Key facts - **Company**: Lifeward Ltd. (NASDAQ: LFWD) - **News type**: Debt Financing - **Primary source**: [Lifeward Ltd. 8-K (2026-07-07)](https://www.sec.gov/Archives/edgar/data/1607962/000117891326003429/zk2635657.htm) *A meeting room with a long table and a screen. CC0, via rawpixel. The picture shows the field, not the companies named.* Lifeward Ltd. entered into an amended and restated senior secured convertible note, an amended and restated common warrant and an amended and restated pre-funded warrant on June 30, 2026. The company disclosed the agreements in a Form 8-K filed July 7, 2026. The amendments relate to notes issued under a securities purchase agreement with Oramed Pharmaceuticals Inc. and certain investors. Oramed acts as collateral agent for the notes. ## The amended note and warrants The amended note gives the notes pari passu treatment and revises certain mandatory redemption and beneficial ownership limitation provisions. The amended warrants revise only the ownership limitation. ## The June securities purchase agreement Under a June 30, 2026 securities purchase agreement with certain investors and Oramed, the company agreed to issue senior secured convertible notes with warrants. The deal closed on July 6, 2026. At closing, the company issued initial notes with an aggregate principal amount of $5,580,000.00, together with initial warrants. The company also agreed to issue second notes in an aggregate principal amount of $5,580,000.00, with second warrants. Funding of the second notes is subject to customary closing conditions and to one of two tests. The first is a 150% increase in ReWalk Unit Sales, measured in U.S. dollars, relative to the trailing twelve-month period before the additional closing date. The second is a closing price of the ordinary shares on the trading market that equals or exceeds $13.80 per share on each trading day during the ten consecutive trading days before the additional closing date. ## Terms of the notes Each note matures on the third anniversary of its issuance. The holder may convert the outstanding principal and accrued interest at any time into ordinary shares at an initial conversion price of $5.40 per share. The notes accrue interest at 8.0% per annum, which increases to 15.0% per annum upon an event of default. Interest is payable semi-annually in arrears on June 30 and December 31 each year, starting December 31, 2026. The company may pay in cash or, at its sole election, add interest to the outstanding principal. A holder may not convert notes or receive shares if the result would give it more than 4.99% of the outstanding ordinary shares, subject to limited increases. After an event of default, the holder may demand immediate cash payment of principal, interest and other amounts. ## Terms of the warrants The warrants cover up to 100% of the shares each note converts into at issuance, at an initial exercise price of $5.40 per share. They are exercisable immediately, expire after five years and may be exercised on a cashless basis. The number of shares issuable under the notes and warrants is subject to an exchange cap of 19.99% of outstanding ordinary shares, unless shareholder approval is obtained. ## Lenders, agents and advisers The notes were issued to certain investors, and the filing does not name them individually. Oramed Pharmaceuticals Inc. acts as collateral agent. The filing names no underwriter or placement agent, and it does not state the company's use of proceeds. ## Financial position Lifeward's annual report on Form 10-K, filed March 18, 2026, reported revenue of $22.0 million for 2025 and $25.7 million for 2024. The net loss was $19.9 million for 2025 and $28.9 million for 2024. Cash from operations was negative $16.8 million for 2025 and negative $21.7 million for 2024. Year-end cash and cash equivalents were $6.7 million at December 31, 2024. ## What the terms cost shareholders This is secured, convertible debt with equity sweeteners. The notes pay 8.0%, rising to 15.0% after a default, and the company may add interest to principal. Holders can convert at $5.40 per share and also hold warrants over up to 100% of the shares each note converts into, so lenders get new shares twice. Share issuance is capped at 19.99% unless shareholders approve more. The $5,580,000.00 of initial notes is small against the $16.8 million of cash used in operations in 2025, and the second tranche arrives only if ReWalk sales rise 150% or the stock reaches $13.80 for ten straight trading days. The filing does not say what the proceeds will fund. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LFWD Lifeward Ltd. NASDAQ ยท United States Open the starter desk ## More in Debt Financing Debt Financing ### [Pelthos amends Horizon venture loan, funds Loans E to H and adds Loans I and J](https://aibio.space/news/pelthos-amends-horizon-venture-loan-funds-loans-e-h-adds-loans/) Oct 30, 2026 Debt Financing ### [Repligen announces $1.0 billion private convertible notes transaction](https://aibio.space/news/repligen-announces-1-0-billion-private-convertible-notes-transaction/) Oct 30, 2026 Debt Financing ### [FOXO to buy Ludwig Enterprises preferred stock with majority voting power](https://aibio.space/news/foxo-buy-ludwig-enterprises-preferred-stock-majority-voting-power/) Oct 29, 2026 --- Source page: https://aibio.space/news/lifeward-amends-senior-secured-convertible-notes-tied-oramed/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lifeward amends senior secured convertible notes tied to Oramed", 2026-06-30, https://aibio.space/news/lifeward-amends-senior-secured-convertible-notes-tied-oramed/