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InspireMD, Inc. Announces Pricing of $5 Million Underwritten Public Offering

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TEL AVIV, Israel, Sept. 19, 2019 (GLOBE NEWSWIRE) -- InspireMD, Inc. (NYSE:NSPR), the developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by carotid artery disease, today announced the pricing of an underwritten public offering of 2,777,777 units at a price to the public of $1.80 per unit. InspireMD expects to receive aggregate gross proceeds of approximately $5 million from the offering, assuming no exercise of the underwriter's option to purchase additional securities. Each unit contains one share of common stock (or common stock equivalent) and one Series E warrant to purchase one share of common stock at an exercise price of $1.80 per share. The common stock (or common stock equivalents) and the accompanying Series E warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance. In connection with the offering, InspireMD has granted the underwriter a 30-day option to purchase up to an additional 416,666 shares of common stock and/or Series E warrants to purchase up to 416,666 shares of common stock. The offering is expected to close on or about September 24, 2019, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the sole book-running manager for the offering. InspireMD intends to use the net proceeds of this offering for research and development, capital expenditures, working capital, sales and marketing and other general corporate purposes. A registration statement on Form S-1 (File No. 333-233432) relating to the public offering of the securities described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on September 19, 2019. The offering is being made ...Full story available on Benzinga.com

Source: http://feeds.benzinga.com/~r/benzinga/press-releases/~3/DThUBU-wfzY/inspiremd-inc-announces-pricing-of-5-million-underwritten-public-offering

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