InspireMD amended certain Series J and Series K warrants, setting a $0.7674 exercise price and creating potential gross proceeds of up to $11 million if exercised in full. The changes matter to investors because the revised warrants now carry an FDA approval-linked termination date, while other Warrant terms remain unchanged.

Key Highlights

  • The changes apply to half of the shares covered by the amending holders’ Series J warrants.
  • The changes apply to all shares covered by the amending holders’ Series K warrants.
  • The pre-funded warrant price in the amended terms is $0.7673.

The revised terms set a $0.7674 exercise price and connect the amended warrants’ expiry to FDA approval of CGuard Prime 80 cm.

$0.7674 Exercise Price, Approval-Linked Expiry

The changes apply to half of the shares covered by the amending holders’ Series J warrants and all shares covered by those holders’ Series K warrants. Holders choosing pre-funded warrants receive a $0.0001 reduction from the stated exercise price. The revised termination date is the earlier of May 15, 2028, or a period following InspireMD (NASDAQ: NSPR)’s announcement that FDA approval for CGuard Prime 80 cm has been received. The remaining Series J warrant portion keeps its existing exercise price and termination date.

Existing Terms Remain in Force

Full exercise of the amended warrants, together with existing cash balances, is expected to provide additional resources, according to the accompanying announcement. Terms covering other portions of the warrants remain in force unless specifically changed by the amendments.