Full Press Release Details
Announces One-for-Ten Reverse Stock Split
MA - October 1, 2015 - InspireMD, Inc. (NYSE MKT: NSPR) ("InspireMD"
or the "Company"), a leader in embolic prevention systems (EPS), neurovascular devices and thrombus management technologies,
announced today a one-for-ten reverse split of its common stock, effective as of 12:00 am Eastern Time on October 1, 2015. Beginning
with the opening of trading on October 1, 2015, the Company's common stock will trade on the NYSE MKT on a split adjusted
basis. In addition, the number of authorized shares of the Company's common stock was decreased from 125 million to 50 million.
previously disclosed, at InspireMD's Annual Meeting on September 9, 2015, the Company's stockholders authorized the
Board of Directors to amend the Amended and Restated Certificate of Incorporation of the Company to effect a reverse stock split
at a ratio of one-for-ten and to reduce the number of authorized shares of its common stock.
the effectiveness of the reverse stock split, every ten (10) shares of InspireMD common stock outstanding automatically combine
into one (1) new share of common stock with no change in par value per share. Proportionate adjustments will be made to (i) the
per share exercise price and the number of shares of common stock that may be purchased upon exercise of outstanding stock options
and warrants to purchase shares of the Company's common stock and (ii) the number of authorized shares of common stock reserved
for future issuance under the Company's equity compensation plans.
Company's common stock will continue to trade on the NYSE MKT under the symbol "NSPR." The new CUSIP number
for the common stock following the reverse stock split is 45779A507.
fractional shares will be issued following the reverse stock split. Any fractional shares resulting from the reverse stock split
will be rounded up to the next whole share.
Stockholders holding their shares of common stock in book-entry or through a bank, broker or other nominee form do not need to
take any action in connection with the reverse stock split. For those stockholders holding physical stock certificates, the Company's
transfer agent, Action Stock Transfer Corp, will send instructions for exchanging those certificates for new certificates representing
the post-split number of shares. Action Stock Transfer Corp can be reached at (801) 274-1088.
information about the reverse stock split can be found in the Company's definitive proxy statement filed with the Securities
and Exchange Commission on July 29, 2015, a copy of which is also available at www.sec.gov or at www.inspiremd.com under the SEC
Filings tab located on the Investors page.
(www.inspiremd.com) seeks to utilize its proprietary MGuard with 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 MicroNet 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.
proprietary CGuard Embolic Prevention System (EPS) uses the same MicroNet technology
featured on the MGuard and MGuard Prime coronary Embolic Protection Systems.
The CGuard EPS is designed to prevent peri-procedural and late embolization by trapping potential emboli against the arterial
wall while maintaining excellent perfusion to the external carotid artery and branch vessels.
is a bio-stable mesh woven from a single strand of 20 micron Polyethylene Terephthalate.
EPS is CE Marked and not approved for sale in the U.S. by the U.S. Food and Drug Administration at this time.
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.