Units have same terms as those sold in $1.12 million public offering
By Devika Patel
Knoxville, Tenn., March 21 – InspireMD, Inc. said it settled a $609,500 private placement of units. The company also settled a $1.12 million public offering of units at the same price that was announced March 15 and priced on March 16, as previously reported.
In the placement, the company sold 1,033,051 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.
Proceeds will be used to conduct sales activities and for general corporate purposes.
InspireMD is a medical device company based in Boston.
| Issuer: | InspireMD, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $609,500
|
| Units: | 1,033,051
|
| Price: | $0.59
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.59
|
| Pricing date: | March 16
|
| Settlement date: | March 21
|
| Stock symbol: | NYSE: NSPR
|
| Stock price: | $0.84 at close March 15
|
| Market capitalization: | $4.27 million
|
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