Deal also includes five-year warrants for 34 million shares
By Susanna Moon
Chicago, March 4 – InspireMD, Inc. said it priced its $13.5 million public offering of common stock and warrants at $0.40 per share. The deal was announced on March 3.
The company will sell up to about 34 million shares and warrants for 34 million shares, according to a company press release.
The warrants will be exercisable at a price of $0.55 each for five years. The strike price is equal to the company’s closing price on March 3.
H.C. Wainwright & Co., LLC is the bookrunner.
Proceeds will be used to launch CGuard EPS commercially, for MGuard Prime EPS sales activities, for development of the company’s pipeline and for general corporate purposes.
InspireMD is a Boston medical device company that develops embolic protection systems.
| Issuer: | InspireMD, Inc.
|
| Issue: | Shares and warrants
|
| Amount: | $13.5 million
|
| Shares: | About 34 million
|
| Price: | $0.40
|
| Warrants: | For 34 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.55
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Co-manager: | Dawson James Securities, Inc.
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Stock symbol: | NYSE: NSPR
|
| Stock price: | $0.55 at close March 3
|
| Market capitalization: | $23.45 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
