InspireMD Announces Combined Financings of $58 Million

Core Insights - InspireMD, Inc. has raised approximately $58 million through a PIPE financing and warrant exercise, following the FDA's approval of its CGuard® Prime carotid stent system [1][2][3] - The PIPE financing generated gross proceeds of $40.1 million, with participation from existing and new investors, and the exercise of warrants contributed an additional $17.9 million [2][3] - The funds will be utilized for operations including sales and marketing, research and development, and general corporate purposes [4] Financing Details - The PIPE financing involved the issuance of 16,556,184 shares of common stock at a purchase price of $2.42 per share [2] - The transaction is expected to close by August 1, 2025, subject to customary conditions [3] - BofA Securities acted as the exclusive placement agent for the PIPE [4] Strategic Objectives - The CEO of InspireMD stated that the transaction strengthens the company's balance sheet and positions it for rapid commercial growth in the carotid intervention market [3] - The company aims to leverage its proprietary MicroNet™ mesh technology to establish its products as the industry standard for carotid stenting [7]