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Israel's InMode raises additional $7M via underwriters' allotments

InMode Ltd. raised an additional $7 million after underwriters partially exercised their over-allotment option in the company's IPO.

The Israel-based medical device maker sold 500,000 common shares at $14 apiece to underwriters.

Gross proceeds, before deducting underwriting discounts and commissions and other offering expenses, totaled about $77 million after the additional share sale to underwriters.

Barclays Capital Inc. and UBS Investment Bank acted as representatives of the underwriters and joint book-running managers for the offering. Canaccord Genuity LLC was lead manager, while Robert W. Baird & Co. Inc. acted as co-manager.