Full Press Release Details
Closes $25 Million Underwritten Public Offering
AVIV, Israel, APR. 16 - InspireMD, Inc. ("InspireMD" or the "Company") (NYSE MKT: NSPR) announced
the closing of an underwritten public offering of 12.5 million shares of its common stock at a price to the public of $2.00 per
share. The Company received net proceeds of approximately $22.6 million, after deducting underwriting discounts and commissions
and other offering-related costs. InspireMD granted the underwriters a 30-day option to purchase up to an additional 1.875 million
shares to cover over-allotments, if any.
The Company intends to use a portion of
the proceeds from the offering to assist in retiring its convertible debentures, to support the worldwide commercialization of
the MGuardTM Coronary and Carotid Embolic Protection Stents (EPS), to pursue FDA approval in the United States, and
for general corporate purposes. Following this offering, the Company will not have any indebtedness for borrowed money outstanding.
LLC was sole book runner and JMP Securities acted as co-lead manager.
The offering of these
securities were made only by means of a prospectus. A registration statement relating to these securities has been declared effective
by the Securities and Exchange Commission (SEC). The registration statement may be accessed through the SEC's website at
A prospectus relating
to these securities may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services)
at 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806.
shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About InspireMD, Inc.
InspireMD is a medical
device company focusing on the development and commercialization of its proprietary stent system technology, MGuard . InspireMD
intends to pursue applications of this technology in coronary, carotid and peripheral artery procedures. InspireMD's common stock
is quoted on the NYSE MKT under the ticker symbol NSPR.
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) 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, multi-national companies, (v) product liability claims, (vi)
our limited manufacturing capabilities and reliance on subcontractors for assistance, (vii) insufficient or inadequate reimbursement
by governmental and other third party payers for our products, (viii) our efforts to successfully obtain and maintain intellectual
property protection covering our products, which may not be successful, (ix) legislative or regulatory reform of the healthcare
system in both the U.S. and foreign jurisdictions, (x) our reliance on single suppliers for certain product components, (xi) 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 (xii) 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 Transition Report on Form 10-K/T 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.
For additional information: