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InspireMD Announces Pricing Of Underwritten Public Offering Of Common Stock And Listing On NYSE MKT





TEL AVIV, Israel, April 10, 2013 /PRNewswire/ -- InspireMD, Inc. ("InspireMD" or the "Company") (NYSE MKT: NSPR) announced the pricing of an underwritten public offering of 12,500,000 shares of its common stock at a price to the public of $2.00 per share. The net proceeds to the Company from this offering are expected to be approximately $22.6 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about April 16, 2013, subject to customary closing conditions. InspireMD also has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares to cover over-allotments, if any.

The Company also announced that, effective as of April 11, 2013, its common stock will begin trading on the NYSE MKT under the symbol "NSPR." In connection with its listing on the NYSE MKT, the Company's common stock will cease trading on the OTC Bulletin Board.

The Company intends to use the proceeds from the offering to redeem its convertible debentures, to support the worldwide commercialization of the MGuard™ Embolyic Protective Stent (EPS) in acute myocardial infarction, to pursue FDA approval in the U.S. and for general corporate purposes.  

Cowen and Company, LLC is sole book runner and JMP Securities is acting as co-lead manager. 

The offering of these securities will be made only by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). The registration statement may be accessed through the SEC's website at www.sec.gov.

A prospectus relating to these securities may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services) at 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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