InspireMD announces combined financings of $58M

InspireMD (NSPR) announced the Company has raised approximately $58 million in combined gross proceeds through an equity private placement financing and the exercise of warrants that were triggered by the Company’s premarket application approval of the CGuard Prime carotid stent system by the U.S. Food and Drug Administration. The PIPE, with aggregate gross proceeds of $40.1 million, was led by current investors OrbiMed and Marshall Wace, with strong participation from new and existing investors, as well as InspireMD board members. Pursuant to the securities purchase agreement, the Company has agreed to issue an aggregate of 16,556,184 shares of common stock and, if applicable, pre-funded warrants, at a purchase price of $2.42 per share. The warrant exercise generated gross proceeds of $17.9 million, which was triggered by the receipt of the PMA from the FDA. In connection with the PIPE, the Company entered into a registration rights agreement pursuant to which the Company will subsequently file a registration statement to register the resale of common stock purchased in the transaction and the common stock underlying the pre-funded warrants. The closing of the PIPE is expected to occur by August 1, 2025, subject to customary closing conditions. InspireMD currently intends to use the net proceeds from the PIPE transaction to fund its operations, including, but not limited to, sales and marketing, research and development, and working capital and other general corporate purposes. BofA Securities served as the exclusive placement agent for the PIPE with institutional investors.