Full Press Release Details
InspireMD Completes $8.1 Million Registered
BOSTON, MA - November 7, 2014 - InspireMD,
Inc. ("InspireMD" or the "Company") (NYSE MKT: NSPR), a leader in stent Embolic Protection
Systems (EPS), today announced the closing of its registered direct offering of approximately 6.2 million shares of common stock
and warrants to purchase up to approximately 3.1 million shares of common stock at a price of $1.30 per share. Each purchaser
received a warrant to purchase 0.5 of a share of common stock for each share of common stock that it purchased in the offering.
The warrants are non-exercisable for six months and have a term of exercise of 42 months from the date of issuance and an exercise
The Company received gross proceeds of $8.1 million,
before deducting placement agents' fees and estimated offering expenses. The Company intends to use the net proceeds from
this offering to advance the development of its MGuard drug-eluting stent platform and develop the CGuard rapid exchange
platform, commercially launch CGuard EPS, and for general corporate purposes.
H.C. Wainwright & Co., LLC, served as the exclusive placement
agent for this offering.
securities described above were offered pursuant to a shelf registration statement on Form S-3 which was filed with the Securities
and Exchange Commission ("SEC") and was declared effective on November 27, 2013. A prospectus supplement relating to
the offering was filed with the SEC on November 5, 2014. Copies of the prospectus supplement and accompanying prospectus relating
to the offering may be obtained from H.C. Wainwright & Co., LLC by e-mailing placements@hcwco.com.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state
About InspireMD, Inc.
InspireMD 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.
InspireMD intends to pursue applications
of this MicroNet technology in coronary, carotid (CGuardTM) 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, 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, (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 and (xiv) the escalation of hostilities
in Israel, which could impair our ability to manufacture our products. 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-KT 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.
Todd Fromer / Garth Russell
KCSA Strategic Communications
Phone: 212-896-1215 / 212-896-1250
Email: tfromer@kcsa.com
KCSA Strategic Communications