InspireMD Announces 1-for-15 Reverse Stock Split

About this update from Inspiremd Inc.

[{"type":"text","content":"TEL AVIV, Israel, April 14, 2021 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR, NSPR.WS, NSPR.WSB), developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD), today announced a 1-for-15 reverse split of its common stock, effective as of April 26, 2021. Beginning on April 27, 2021, the Company’s common stock will trade on the NYSE American on a split adjusted basis. At InspireMD’s special meeting of stockholders on April 14, 2021, the Company’s stockholders authorized the Board of Directors to amend the Amended and Restated Certificate of Incorporation of the Company to effect a reverse stock split at a ratio in the range of 1-for-10 to 1-for-20. Upon effectiveness, the reverse stock split will cause a reduction in the number of shares of common stock outstanding and issuable upon the conversion of the Company’s outstanding shares of preferred stock and the exercise of its outstanding stock options and warrants in proportion to the ratio of the reverse stock split and will cause a proportionate increase in the conversion and exercise prices of such preferred stock, stock options and warrants. The number of shares of common stock issuable upon exercise or vesting of outstanding stock options and warrants will be rounded up to the nearest whole share. Accordingly, upon effectiveness of the reverse stock split, each outstanding warrant currently trading on the NYSE American under the symbol “NSPR.WS” shall become a warrant to purchase one-twenty six thousand two hundred fiftieth (1/26,250) of one share of common stock at an exercise price of $131,250.00 per full share of common stock, and each outstanding warrant currently trading on the NYSE American under the symbol “NSPR.WSB” shall become a warrant to purchase one-twenty six thousand two hundred fiftieth (1/26,250) of one share of common stock at an exercise price of $52,500.00 per full share of common stock, pursuant to the terms of such warrants. Warrants may only be exercised for a whole number of shares of common stock. Warrants exercised on or prior to April 26, 2021 will be deemed exercised on a pre-adjusted basis. The Company’s common stock will continue to trade on the NYSE American under the symbol “NSPR.” The new CUSIP number for the common stock following the reverse stock sp...

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