InspireMD announces $42.2M upfront private placement with up to $113.6M total; led by Marshall Wace

InspireMD, Inc.

Gross proceeds of $42.2M upfront; additional $71.4M if milestone-driven warrants exercised in cash.
Investors include Marshall Wace, OrbiMed, Rosalind, Nantahala, Soleus, Velan, and certain board members.
Warrants exercisable at $1.3827/share upon FDA approvals or pivotal trial results (4 series, each ~$17.9M).
Net proceeds to fund product/clinical development, regulatory approvals, and U.S. launch of CGuard Prime and SwitchGuard.
Closing expected May 15, 2023; Piper Sandler, A.G.P., LifeSci Capital act as advisors.

item 1.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

InspireMD, Inc. entered into Purchase Agreement valued at approximately $42.2 million (effective 2023-05-12).

Action: entry
Agreement: equity purchase
Value: approximately $42.2 million
Effective: 2023-05-12

Exact text from the filing

On May 12, 2023, InspireMD, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”)

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InspireMD, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-017367

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