Business
InspireMD Announces Closing of an Upsized $20.7 Million Underwritten Public Offering and Full Exercise of Over-Allotment Option
TEL AVIV, Israel, Feb. 08, 2021 (GLOBE NEWSWIRE) -- InspireMD, Inc. ("InspireMD") (NYSE:NSPR), a medical device company focused on the development and
About this update from Inspiremd Inc.
[{"type":"text","content":"TEL AVIV, Israel, Feb. 08, 2021 (GLOBE NEWSWIRE) -- InspireMD, Inc. (\"InspireMD\") (NYSE:NSPR), a medical device company focused on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of vascular and coronary diseases in Europe, Latin America, the Middle East and Asia, today announced the closing of an upsized underwritten public offering of units for gross proceeds of approximately $20.7 million, which includes the full exercise of the underwriter’s over-allotment option to purchase additional shares and warrants, prior to deducting underwriting discounts and commissions and offering expenses payable by InspireMD. The offering is comprised of 29,032,258 Units, priced at a public offering price of $0.62 per Unit, with each Unit consisting of one share of Common Stock and one Series G Warrant to purchase one-half of one share of Common Stock, at an exercise price of $0.682 per share and expiring on the fifth anniversary of the date of issuance. The underwriter also exercised an over-allotment option to purchase an additional 4,354,838 Units consisting of 4,354,838 shares of Common Stock and/or Series G Warrants to purchase 2,177,419 shares of Common Stock in the offering. A.G.P./Alliance Global Partners acted as the sole book-running manager in connection with the offering. The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-252199), which was declared effective by the U.S. Securities and Exchange Commission (\"SEC\") on February 3, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering is being made solely by means of a prospectus. A final prospectus relating to this offering will be filed by InspireMD with the SEC. When available, copies of the final prospectus can be obtained at the SEC's website at www.sec.gov or from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, New York 10022, or by email at [email protected]. About InspireMD, Inc. InspireMD seeks to utilize its proprietary MicroNet® technology to make its products the industr...