Business
InspireMD, Inc. Announces Underwriter Exercise of Over-Allotment Option in Full and Closing of $11.5 Million Follow-On Underwritten Public Offering
TEL AVIV, Israel, June 08, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR), the developer of the CGuard™ Embolic Prevention System (EPS) for
About this update from Inspiremd Inc.
[{"type":"text","content":"TEL AVIV, Israel, June 08, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR), the developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by carotid artery disease, announced today the closing, on June 5, 2020, of its $11.5 million follow-on underwritten public offering, which included $1.5 million from the exercise, in full, by the underwriter of its over-allotment option for the offering. Pursuant to the offering, InspireMD issued 25,555,500 shares of common stock or common stock equivalents, along with an equivalent number of Series F warrants to purchase common stock, in units, at a price to the public of $0.45 per unit. Each Series F warrant is exercisable for one share of common stock at an exercise price of $0.495 per share. The common stock (or common stock equivalents) and the accompanying Series F warrants included in the units were issued separately to investors at the closing.\n A.G.P. / Alliance Global Partners served as the sole book-running manager for the offering. InspireMD intends to use the net proceeds of this offering—estimated at $10.7 million—for research and development, sales and marketing, working capital and other general corporate purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A registration statement on Form S-1 (File No. 333-238247) relating to the public offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on June 2, 2020. The offering was carried out only by means of a prospectus forming part of the effective registration statement. The final prospectus relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by calling (212) 624-2060 or emailing [email protected], or at the SEC’s website at http://www.sec.gov. About InspireMD, Inc. InspireMD seeks...