BOCA RATON, FL / ACCESSWIRE / March 15, 2017 / Dawson James Securities, Inc., in conjunction with InspireMD, Inc. (NYSE MKT: NSPR), announced the closing today of a registered direct offering of 1,069,822 units consisting of 1,069,822 shares of Series C Convertible Preferred Stock, and Series B warrants to purchase up to 4,279,288 shares of common stock and Series C warrants to purchase up to 4,279,288 shares of common stock. Each share of Series C Convertible Preferred Stock is convertible into 4 shares of common stock at a conversion price equal to $1.60 per share.
The Series B warrants are exercisable immediately and have a term of exercise of five years from the date of issuance and have an exercise price of $2.00 per share. The Series C warrants shall be exercisable immediately and have a term of exercise of six months from the date of issuance and have an exercise price of $1.60 per share. InspireMD expects to receive gross proceeds of $6,846.860 million from the offering, before deducting placement agent fees and offering expenses.
Dawson James Securities Inc. acted as the Exclusive Placement Agent for the Offering and utilized its Diversified Investor OfferingTM structure, including both institutional and retail investors.
The shares described above were offered by InspireMD, Inc. pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC") on March 8, 2017. A final prospectus supplement relating to the offering was filed with the SEC and is available, along with the accompanying base prospectus, on the SEC's website at http://www.sec.gov, or by contacting Dawson James: 1 N. Federal Hwy; Suite 500, Boca Raton, FL 33432 ATTN: Prospectus Department.
About InspireMD, Inc.
InspireMD seeks to utilize its proprietary MicroNetTM technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.
InspireMD intends to pursue applications of this MicroNet technology in coronary, carotid (CGuardTM), neurovascular, and peripheral artery procedures.
About Dawson James Securities, Inc.
Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology and Consumer sectors and is a full service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland, New Jersey, and North Carolina (www.dawsonjames.com).