Full Press Release Details
Inc. Announces Pricing of Public Offering of Common Stock
Aviv, Israel- February 27, 2018 - InspireMD, Inc. (NYSE American: NSPR), a leader in embolic prevention systems
(EPS) / thrombus management technologies and neurovascular devices, today announced the pricing of an underwritten public offering
of 1,000,000 shares of its common stock at a price to the public of $3.00 per share. InspireMD also granted the underwriter a
30-day option to purchase up to an additional 150,000 shares of its common stock at the public offering price of $3.00 per share,
less underwriting discounts and commissions. InspireMD expects to receive aggregate gross proceeds of $3 million from the offering,
assuming no exercise of the underwriter's option to purchase additional shares. The offering is expected to close on or
about March 1, 2018, subject to customary closing conditions.
Wainwright & Co. is acting as the sole book-running manager for the offering.
intends to use 15% of the gross proceeds of this offering to redeem the outstanding shares of its Series D Convertible Preferred
Stock, and the remainder of the net proceeds of this offering for research and development, capital expenditures, working capital
and other general corporate purposes.
shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed
with the Securities and Exchange Commission ("SEC") and was declared effective on February 23, 2018. A preliminary
prospectus supplement describing the terms of the offering was filed with the SEC on February 26, 2018, and is available on the
SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating
to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY
10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC's website at http://www.sec.gov.
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 or jurisdiction. Any offer, if at all, will be made only by means of the prospectus
supplement and accompanying prospectus forming a part of the effective registration statement.
seeks to utilize its proprietary MicroNet 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 (CGuard ), neurovascular, and peripheral
artery procedures. InspireMD's common stock is quoted on the NYSE American under the ticker symbol NSPR and certain warrants
are quoted on the NYSE American under the ticker symbol NSPR.WS.
press release includes statements relating to the proposed offering of InspireMD's shares of common stock, including as
to the consummation of this offering described above and the use of net proceeds therefrom. These statements and other statements
in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. 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.