InspireMD Inc. priced its public offering of 2,857,143 common shares at $1.75 apiece.
The Israel-based medical device-maker expects to raise gross proceeds of about $5 million from the offering.
The company intends to use $300,000 out of the net proceeds to redeem the outstanding shares of its series C convertible preferred stock held by the holder of its series D convertible preferred shares.
InspireMD intends to use the remainder of the net proceeds for research and development, capital expenditures, working capital and other general corporate purposes.
The offering is expected to close April 2, subject to customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.