NSPR Stock: 1-For-15 Reverse Stock Split

By Amit Chowdhry ● April 27, 2021
  • InspireMD, Inc. (NYSE American: NSPR, NSPR.WS, NSPR.WSB) recently announced a 1-for-15 reverse split of its common stock, effective as of yesterday. These are the details.

InspireMD, Inc. (NYSE American: NSPR, NSPR.WS, NSPR.WSB) — the developer of the CGuard Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD) — recently announced a 1-for-15 reverse split of its common stock, effective as of yesterday. And starting today, the company’s common stock will trade on the NYSE American on a split-adjusted basis.

At InspireMD’s special meeting of stockholders on April 14, 2021, the company’s stockholders authorized the Board of Directors to amend the Amended and Restated Certificate of Incorporation of the company to effect a reverse stock split at a ratio in the range of 1-for-10 to 1-for-20.

Upon effectiveness, the reverse stock split is going to cause a reduction in the number of shares of common stock outstanding and issuable upon the conversion of the company’s outstanding shares of preferred stock and the exercise of its outstanding stock options and warrants in proportion to the ratio of the reverse stock split and will cause a proportionate increase in the conversion and exercise prices of such preferred stock, stock options, and warrants. And the number of shares of common stock issuable upon exercise or vesting of outstanding stock options and warrants will be rounded up to the nearest whole share. 

And accordingly, upon effectiveness of the reverse stock split, each outstanding warrant currently trading on the NYSE American under the symbol “NSPR.WS” shall become a warrant to buy one-twenty six thousand two hundred fiftieth (1/26,250) of one share of common stock at an exercise price of $131,250.00 per full share of common stock, and each outstanding warrant currently trading on the NYSE American under the symbol “NSPR.WSB” shall become a warrant to purchase one-twenty six thousand two hundred fiftieth (1/26,250) of one share of common stock at an exercise price of $52,500.00 per full share of common stock, pursuant to the terms of such warrants. 

Warrants may only be exercised for a whole number of shares of common stock. And warrants exercised on or prior to April 26, 2021 will be deemed exercised on a pre-adjusted basis.

The company’s common stock will continue to trade on the NYSE American under the symbol “NSPR.” And the new CUSIP number for the common stock following the reverse stock split is 45779A 846.

The number of authorized shares of the InspireMD’s common stock will remain at 150,000,000, while the number of outstanding shares will be reduced from approximately 118.0 million to 7.9 million. No fractional shares will be issued following the reverse stock split.

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