Tel Aviv, Israel's InspireMD Inc. closed an underwritten public offering of 1 million common shares, priced at $3 per share.
Upon closing of the offering, the company issued warrants to buy 60,000 common shares to the underwriter's designees. The warrants are immediately exercisable at $3.75 per share.
H.C. Wainwright & Co. is acting as the sole book-running manager. The underwriter was granted an option to buy up to an additional 150,000 shares.
The healthcare technology company previously said it will use some of the proceeds to redeem its preferred stock and to fund general corporate purposes.
