Proceeds to be used to conduct sales activities, for corporate purposes
By Devika Patel
Knoxville, Tenn., March 16 – InspireMD, Inc. said it priced a $1.12 million public offering of units. The deal was announced Tuesday.
The company will sell 1.9 million units of one common share and a half-share warrant at $0.59 per unit. Each whole warrant will be exercisable at $0.59 for five years. The strike price is a 29.76% discount to the March 15 closing share price of $0.84.
Dawson James Securities, Inc. is the bookrunner.
Settlement is expected March 21.
Proceeds will be used to conduct sales activities and for general corporate purposes, according to a company news release.
InspireMD is a medical device company based in Boston.
Issuer: | InspireMD, Inc.
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Issue: | Units of one common share and a half-share warrant
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Amount: | $1,121,000
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Units: | 1.9 million
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Price: | $0.59
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | $0.59
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Bookrunner: | Dawson James Securities, Inc.
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Announcement date: | March 15
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Pricing date: | March 16
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Settlement date: | March 21
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Stock symbol: | NYSE: NSPR
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Stock price: | $0.84 at close March 15
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Market capitalization: | $4.44 million
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