Full Press Release Details
InspireMD Announces Amendment to Loan
& Security Agreement with Hercules Capital
Principal Payments Deferred, Assisting
Cash Management Programs
MA - June 14, 2016 - InspireMD, Inc. (NYSE MKT: NSPR) ("InspireMD" or the "Company"),
a leader in embolic prevention systems (EPS), neurovascular devices and thrombus management technologies, today announced that
it has completed a restructuring of its existing debt.
Company restructured its term loan with lenders and Hercules Capital ("Hercules" or "Lenders"), which
has an outstanding balance of approximately $3.6 million, effective immediately. Under the terms of the No. 3 Amendment to Loan
and Security Agreement and subject to the satisfaction of certain interest only period extension conditions, all parties have
agreed to a deferral of payment of principal for a four month period beginning May 1st, 2016. The Company will be subject
to certain additional covenants, and will pay a financing fee to the Lenders, that are in line with transactions of this type.
seeks to utilize its proprietary MicroNetTM technology to make its products the industry standard for embolic protection
and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization,
no reflow and major adverse cardiac events.
intends to pursue applications of this MicroNetTM technology in coronary, carotid (CGuardTM), neurovascular,
and peripheral artery procedures. InspireMD's common stock is quoted on the NYSE MKT under the ticker symbol NSPR.
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)
negative clinical trial results or lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for
the sale of our products, (iv) intense competition in the medical device industry from much larger, multinational companies, (v)
product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors
for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products,
(ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be
successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our
reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet
our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xiii)
the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations,
logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability
in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward
looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents
free of charge on the SEC's web site at http://www.sec.gov. The Company assumes no obligation to publicly update
or revise its forward-looking statements as a result of new information, future events or otherwise.
Chief Financial Officer
Phone: 1-888-776-6804
Email: craigs@inspiremd.com
Phone: (212) 554-5482