SCHEDULE: Oramed Discloses 49.9% Stake in Lifeward Ltd.

Oramed Pharmaceuticals has filed a Schedule 13D reporting a 49.9% beneficial ownership stake in Lifeward Ltd. following the acquisition of Oratech Pharma and a private placement of convertible notes.

Summary

• Oramed Pharmaceuticals acquired a 49.9% beneficial interest in Lifeward Ltd. as of March 25, 2026.
• The stake was acquired through the sale of Oratech Pharma to Lifeward and a $9 million private placement of senior secured convertible notes.
• Consideration included 1,250,363 ordinary shares, pre-funded warrants, and share purchase warrants.
• Oramed is entitled to 4% revenue-based payments from Lifeward's ReWalk Personal Exoskeleton products under specific conditions.
• Beneficial ownership is subject to contractual limitations of 49.99% for equity and 45.0% for convertible notes.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-positive development for Oramed, as it secures a significant strategic stake and revenue stream, though it introduces complexity regarding the long-term integration and performance of Lifeward.

Positives

• Secured a significant 49.9% equity position in Lifeward Ltd.
• Established a long-term revenue-sharing agreement tied to Lifeward's core ReWalk product line.
• Diversified investment portfolio through the acquisition of convertible debt and warrants.

Negatives

• Significant dilution risk for existing Lifeward shareholders due to the issuance of large volumes of warrants and convertible notes.
• Revenue sharing payments are capped by a maximum amount or a $200 million market capitalization threshold for the issuer.

Risks

• Beneficial ownership is restricted by contractual caps (49.99% and 45.0%), limiting immediate control or conversion flexibility.
• Future investment decisions are subject to market conditions, Lifeward's financial performance, and general economic factors.
• The potential for future share sales or acquisitions by Oramed could create volatility in Lifeward's stock price.

Future Outlook

Oramed intends to review its investment on a continuing basis and may engage in further acquisitions, disposals, or strategic discussions with Lifeward management regarding performance, capital allocation, and governance.

Management Comments

• Oramed declares that the filing of this statement shall not be construed as an admission of beneficial ownership for purposes of the Act.
• The reporting person reserves the right to take actions including further acquisitions or disposals of securities based on market conditions and the issuer's prospects.

Industry Context

StockSavvy.ai notes that this transaction represents a strategic consolidation in the medical technology space, where pharmaceutical-focused entities are increasingly seeking exposure to high-growth robotics and exoskeleton markets through equity-linked investments.

Comparison to Industry Standards

• The use of pre-funded warrants and convertible notes with ownership caps is a standard mechanism in biotech and medtech private placements to manage regulatory compliance and dilution.
• Revenue-sharing agreements are common in technology-transfer acquisitions, similar to milestone-based earn-outs seen in larger pharmaceutical M&A deals.

Related Party Transactions

• The acquisition of Oratech Pharma, which was previously wholly-owned by Oramed, constitutes a related party transaction.

Stakeholder Impact

• Existing Lifeward shareholders face potential dilution from the conversion of notes and exercise of warrants.
• Lifeward gains access to $9 million in capital to support its operations.

Next Steps

• Ongoing monitoring of Lifeward's financial condition and market performance.
• Potential future discussions with Lifeward's board regarding strategic direction and governance.
• Possible future adjustments to equity holdings based on market conditions.

Key Dates

Recommendation

The significant ownership stake and complex warrant structure suggest a long-term strategic play; investors should wait to see how the integration of Oratech and the use of the $9 million capital infusion impact Lifeward's operational performance.

Keywords

Lifeward, Oramed Pharmaceuticals, Schedule 13D, Oratech, Convertible Notes, Exoskeleton, Equity Stake