IceCure Reminds Shareholders of Upcoming Expiration of Rights Offering Subscription Period

Rhea-AI Summary

IceCure Medical (Nasdaq: ICCM), a developer of cryoablation technology for tumor treatment, has announced the upcoming expiration of its rights offering subscription period on July 28, 2025, at 5:00 PM ET. The company is offering up to 10,000,000 units at $1.00 per unit.

Shareholders of record as of July 9, 2025, received one subscription right for every ordinary share owned, with each right allowing the purchase of 0.1703 units. Each unit consists of one ordinary share and one warrant, or alternatively, one pre-funded warrant and one warrant. Maxim Group LLC is serving as the dealer-manager, while Broadridge Corporate Issuer Solutions, LLC acts as both the Subscription and Information Agent.

Positive

• None.

Negative

• Potential dilution for shareholders who do not exercise their rights
• Short subscription period may limit participation opportunity

CAESAREA, Israel, July 24, 2025 /PRNewswire/ -- IceCure Medical Ltd. (Nasdaq: ICCM) ("IceCure", "IceCure Medical" or the "Company"), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, reminds rights holders that the subscription period for its previously announced rights offering (the "Rights Offering") expires at 5:00 PM Eastern Time on Monday, July 28, 2025.

 

Pursuant to the Rights Offering, the Company distributed to all holders of record of the Company's ordinary shares, no par value per share ("Ordinary Shares") as of 5:00 p.m., Eastern Time, on July 9, 2025 (the "Record Date"), at no charge, non-transferable subscription rights (the "Subscription Rights") to purchase up to an aggregate of 10,000,000 units ("Units") at a subscription price of $1.00 per whole Unit (the "Subscription Price").

If exercising subscription rights through a broker, dealer, bank or other nominee, rights holders should promptly contact their nominee and submit subscription documents and payment for the units subscribed for in accordance with the instructions and within the time period provided by such nominee. The broker, dealer, bank or other nominee may establish a deadline before July 28, 2025 by which instructions to exercise subscription rights, along with the required subscription payment, must be received.

Broadridge Corporate Issuer Solutions, LLC is acting as the Subscription Agent for the Rights Offering. All rights certificates, payments of the Subscription Price and nominee holder certifications, to the extent applicable to your exercise of Subscription Rights, must be delivered to Broadridge Corporate Issuer Solutions, LLC as follows:

By mail:	All trackable mail, including Overnight Delivery:
Broadridge, Inc., Attn: BCIS Re-Organization Dept., P.O. Box 1317, Brentwood, NY 11717-0693	Broadridge, Inc., Attn: BCIS IWS, 51 Mercedes Way, Edgewood, NY 11717

Delivery will only be deemed valid if delivered in line with the above mailing instructions.

Broadridge Corporate Issuer Solutions, LLC is also acting as the Information Agent for the Rights Offering. If you have any questions regarding the Rights Offering, completing a rights certificate or submitting payment in the Rights Offering, please contact the Information Agent for the Rights Offering, at (855) 793-5068 (toll free in the U.S. and Canada) or +1 (720) 414-6898 (for calls outside the U.S. and Canada).

Each holder of the Company's Ordinary Shares will receive one Subscription Right for every Ordinary Share owned on the Record Date. Each Subscription Right will entitle its holder to purchase 0.1703 of a Unit, each comprised of one Ordinary Share and a warrant to purchase one Ordinary Share (the "Warrant") at a subscription price of $1.00 per Unit or, in lieu of such Unit, one Unit, each comprised of one pre-funded warrant ("Pre-Funded Warrant") to purchase one Ordinary Share and one Warrant, at a subscription price of $0.9999 per Unit . No fractional Subscription Rights are being distributed and no fractional Units will be issued upon the exercise of any Subscription Rights in the Rights Offering. Shareholders must exercise Subscription Rights for at least one whole Unit to participate in the Rights Offering. The Subscription Rights will expire if they are not exercised by 5:00 p.m., Eastern Time, on July 28, 2025, the expected expiration date of the Rights Offering. The Company may extend the period for exercising Subscription Rights. Subscription Rights, which are not exercised by the expiration date of the Rights Offering, will expire and not have any value.

The Company has engaged Maxim Group LLC as dealer-manager for the Rights Offering. Questions about the Rights Offering or requests for copies of the final prospectus may be directed to Maxim Group LLC at 300 Park Avenue, New York, NY 10022, Attention Syndicate Department, or via e-mail at syndicate@maximgrp.com or telephone at +1 (212) 895-3745.

The Rights Offering is being made pursuant to the Company's registration statement on Form F-1 (File No. 333-288062) (as amended, the "Registration Statement"), which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on July 9, 2025. The Rights Offering is being made only by means of a prospectus, copies of which will have been delivered to holders of the Company's Ordinary Shares as of 5:00 p.m., Eastern Time on the Record Date and which can be accessed through the SEC's website at www.sec.gov. Questions about the Rights Offering or requests for a copy of the prospectus related to the Rights Offering may be directed to the Information Agent, Broadridge Corporate Issuer Solutions, LLC, at (855) 793-5068 or via e-mail at shareholder@broadridge.com. 

This press release does not constitute an offer to sell or a solicitation of an offer to buy any Subscription Rights, Ordinary Shares, Warrants, Pre-Funded Warrants, Units or any other securities, nor will there be any offer, solicitation or sale of any Subscription Rights, Ordinary Shares, Warrants, Pre-Funded Warrants, Units or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction. This press release is not an offering and an offering can only be made by the prospectus and any prospectus supplements for the Rights Offering, which should be read carefully before making an investment decision.

The Company has not made and will not make any recommendation to shareholders regarding the exercise of Subscription Rights. The Company's shareholders as of 5:00 p.m., Eastern Time, on the Record Date should make an independent investment decision about whether to exercise their Subscription Rights based on their own assessment of the Company's business, financial condition, prospects for the future and the terms of the Rights Offering.

About IceCure Medical

IceCure Medical (Nasdaq: ICCM) develops and markets advanced liquid-nitrogen-based cryoablation therapy systems for the destruction of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally invasive technology is a safe and effective alternative to hospital surgical tumor removal that is easily performed in a relatively short procedure. The Company's flagship ProSense^® system is marketed and sold worldwide for the indications cleared and approved to date including in the U.S., Europe and Asia.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, IceCure is using forward looking statements in this press release when it discusses the expected expiration date of the Rights Offering. Historical results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual property; the Company's ability to expose and educate medical professionals about its products; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on March 27, 2025, and other documents filed with or furnished to the SEC which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

IR Contact:

Email: investors@icecure-medical.com

Michael Polyviou

Phone: 732-232-6914

Todd Kehrli

Phone: 310-625-4462

Logo: https://mma.prnewswire.com/media/2319310/4496307/IceCure_Medical_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/icecure-reminds-shareholders-of-upcoming-expiration-of-rights-offering-subscription-period-302513001.html

SOURCE IceCure Medical

FAQ

When does IceCure Medical's (ICCM) rights offering expire?

The rights offering expires on July 28, 2025, at 5:00 PM Eastern Time.

What is the subscription price for IceCure's (ICCM) rights offering units?

Each unit is priced at $1.00, consisting of one ordinary share and one warrant, or alternatively, one pre-funded warrant and one warrant at $0.9999.

How many subscription rights do ICCM shareholders receive?

Shareholders receive one subscription right for every ordinary share owned as of July 9, 2025, with each right allowing purchase of 0.1703 units.

Who is managing IceCure Medical's rights offering?

Maxim Group LLC is serving as the dealer-manager, while Broadridge Corporate Issuer Solutions, LLC acts as the Subscription and Information Agent.

What happens to unexercised ICCM subscription rights?

Subscription rights that are not exercised by the expiration date (July 28, 2025) will expire and have no value.