Business
InspireMD Regains Compliance with NYSE AMERICAN Listing Standards
TEL AVIV, Israel, Aug. 10, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard™ Embolic Prevention System (EPS) for the
About this update from Inspiremd Inc.
[{"type":"text","content":"TEL AVIV, Israel, Aug. 10, 2020 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of carotid artery disease, today announced that as of August 7, 2020, the Company has regained compliance with the NYSE American’s continued listing standards.\n As previously disclosed, on August 14, 2019, the Company received a Deficiency Letter from the NYSE American stating that InspireMD was not in compliance with certain NYSE American continued listing standards relating to stockholders’ equity. Specifically, InspireMD was not in compliance with Part 10, Section 1003(a)(iii) of the NYSE American Company Guide, due to the fact the Company had reported stockholders’ equity of less than $6 million as of June 30, 2019 and had net losses in its five most recent fiscal years ended December 31, 2018. Following the recently announced funding transaction in which the Company raised net proceeds after offering expenses of approximately $10.7 million, the Company has successfully solved the non-compliance issue. About InspireMD, Inc.InspireMD seeks to utilize its proprietary MicroNet® technology to make its products the industry standard for carotid stenting by providing outstanding acute results and durable stroke free long-term outcomes. InspireMD’s common stock is quoted on the NYSE American under the ticker symbol NSPR and certain warrants are quoted on the NYSE American under the ticker symbol NSPR.WS and NSPR.WSB. Forward-looking Statements This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) negat...