InMode announced that its Board of Directors received an unsolicited proposal from M.N. Business Strategy to acquire all outstanding ordinary shares of the company not already owned by M.N. Business Strategy and its affiliates.
The proposed transaction would be structured as a merger and would value the shares covered by the proposal at $16.20 per share in cash.
M.N. Business Strategy is a group that includes Moshe Mizrahy, InMode’s co-founder and Chief Executive Officer, among others.
InMode said its Board of Directors has approved the formation of a special committee made up solely of independent directors to evaluate the proposal. The special committee will review the proposal with the assistance of its advisors and in accordance with its fiduciary duties and the best interests of the company and all shareholders.
The company said there is no assurance that the special committee’s evaluation will result in a transaction or any other strategic outcome. There is also no assurance regarding the timing or terms of any potential transaction or outcome.
InMode does not plan to comment further on the special committee process or provide additional updates unless required under applicable law or regulation.
InMode is a global medical technology company that develops, manufactures, and markets devices using radiofrequency technology. Its products are used across categories, including plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology.
