InspireMD Inc. priced its previously announced public offering of 1 million shares at $3 apiece to raise $3 million in gross proceeds.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering. The underwriter has an option to buy up to an additional 150,000 shares.

The Israeli healthcare technology company plans to use some of the proceeds to redeem its preferred stock while using most of the amounts raised for general corporate purposes.