IceCure Announces Record Date for Rights Offering for Up to $10 Million

Core Viewpoint - IceCure Medical Ltd. has announced a rights offering to raise up to $10 million, allowing existing shareholders to purchase additional units at specified prices, with the aim of repaying a bridge loan and for general corporate purposes [1][2]. Group 1: Rights Offering Details - The rights offering will provide each shareholder with one subscription right for each ordinary share held as of July 9, 2025, allowing them to subscribe for 0.1703 of a unit at a price of $1.00 per unit or a pre-funded warrant at $0.9999 per unit [1][2]. - The subscription rights will expire on July 28, 2025, at 5:00 p.m. Eastern Time, and shareholders must exercise their rights for at least one whole unit to participate [1][6]. - If fully subscribed, the company expects to receive gross proceeds of $10 million, with Epoch Partner Investments Limited committed to participate with up to $5 million [2]. Group 2: Financial Context - The proceeds from the rights offering will be used to repay a $2 million unsecured bridge loan from Epoch, which carries an interest rate of 4.05% and is due after 12 months or upon completion of the rights offering [2]. - Epoch's director is also a member of IceCure's board, indicating a close relationship between the two entities [2]. Group 3: Company Overview - IceCure Medical specializes in minimally invasive cryoablation technology for tumor destruction, focusing on various cancers including breast, kidney, bone, and lung [8]. - The company's flagship product, the ProSense® system, is marketed globally and offers a safe alternative to surgical tumor removal [8].