InspireMD Announces Proposed Public Offering of Common Stock
InspireMD, Inc. (OTCBB: NSPR) (the “Company” or “InspireMD”), announced today that it filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed $40 million underwritten public offering of shares of its common stock, subject to market and other conditions. InspireMD also intends to grant to the underwriters a 30-day option to purchase up to an aggregate of 15 percent additional shares of common stock to cover over-allotments, if any.
InspireMD intends to use the proceeds from the offering to support the worldwide commercialization of MGuard™ in acute myocardial infarction, pursue FDA approval in the U.S., redeem its convertible debentures and for general corporate purposes. As part of the offering, the Company has applied to list its shares of common stock on the Nasdaq Capital Market.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.