Inspira Technologies prices 6.79M shares at 70c in registered direct offering

Inspira Technologies (IINN) entered into a definitive agreement with a single healthcare-focused, institutional investor for a registered direct offering priced at-the-market under Nasdaq Rules of an aggregate of 6,785,715 ordinary shares at a purchase price of $0.70 per share. The gross proceeds to the Company from the offering are expected to be approximately $4.75M, before deducting placement agent commissions and other offering expenses. In addition, in a concurrent private placement, Inspira will issue and sell unregistered warrants to purchase up to 6,785,715 ordinary shares. The warrants will have an exercise price of $0.70 per share, will be exercisable six months following their issuance and will expire five and a half years from the issuance date. The offering is expected to close on or about February 6, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.