Inspira Technologies OXY B.H.N. Ltd Announces Pricing of Initial Public Offering

Rhea-AI Summary

Inspira Technologies OXY B.H.N. Ltd announced the pricing of its initial public offering (IPO) of 2,909,091 common units, priced at $5.51 each, comprising one ordinary share and one warrant per unit. The offering is expected to raise $16 million in gross proceeds and is set to close on July 16, 2021, subject to customary conditions. Additionally, Aegis Capital Corp. has a 45-day option to purchase up to 15% more common units to cover over-allotments. Trading on Nasdaq is expected to begin on July 14, 2021 under the symbols IINN and IINNW.

AI-generated analysis. Not financial advice.

Positive

• IPO to raise $16 million in gross proceeds.
• Potential growth with innovative Augmented Respiration Technology.

Negative

• Dilution risk for existing shareholders due to the issuance of new shares.
• Stock price performance could be negatively impacted by market reaction to the IPO.

RA'ANANA, Israel , July 13, 2021 /PRNewswire/ -- Inspira Technologies OXY B.H.N. Ltd (the "Company"), a specialty medical device company engaged in the research, development, manufacture, and marketing of proprietary respiratory support technology, today announced the pricing of its initial public offering of 2,909,091 common units at a combined public offering price of $5.51, each consisting of one ordinary share and one warrant to purchase one ordinary share, with an initial exercise price of $5.50 per share. The gross proceeds of the offering are expected to be $16 million before deducting underwriting discounts, commissions and offering expenses. The offering is expected to close on July 16, 2021, subject to satisfaction of customary closing conditions.

In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase up to 15% of additional common units at the public offering price to cover over-allotments, if any. The ordinary shares and common warrants are expected to begin trading on The Nasdaq Capital Market on July 14, 2021, under the symbols "IINN" and "IINNW," respectively.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

A registration statement on Form F-1 relating to the ordinary shares and warrants being sold in this offering was declared effective by the Securities and Exchange Commission (the "SEC") on July 13, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, on the SEC's website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7^th Avenue, 18^th Floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.

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

Inspira Technologies OXY B.H.N. Ltd.

Inspira Technologies is an innovative medical technology company in the respiratory treatment arena. The Company has developed a breakthrough Augmented Respiration Technology, which immediately elevates and stabilizes patient oxygen saturation levels. The Company's ART technology potentially allows patients to remain awake during treatment while minimizing the use of the highly invasive, risky and costly mechanical ventilation systems that require medically induced coma.

For more information, please visit our corporate website: https://inspira-technologies.com/

Forward-Looking Statement Disclaimer

This press release contains express or implied forward-looking statements pursuant to U.S. Federal securities laws. For example, the Company is using forward-looking statements when it discusses the expected timing of the closing of the offering and the possible offering of additional securities. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The offering may not occur, may be delayed or may be completed with different terms than are currently contemplated. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Registration Statement on Form F-1 filed with the SEC, which is available on the SEC's website, www.sec.gov.

Investor Relations Contact
Miri Segal, MS-IR LLC, +917-607-8654, msegal@ms-ir.com

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SOURCE Inspira Technologies

FAQ

What is the price of Inspira Technologies' IPO?

The initial public offering price is $5.51 per common unit.

How much is Inspira Technologies expected to raise from the IPO?

Inspira Technologies is expected to raise $16 million in gross proceeds from the IPO.

When will Inspira Technologies' shares start trading on Nasdaq?

Shares are expected to begin trading on Nasdaq on July 14, 2021.

What are the symbols for Inspira Technologies on Nasdaq?

The ordinary shares will trade under the symbol IINN and the warrants under the symbol IINNW.

Is there an option for over-allotments in the IPO?

Yes, Aegis Capital Corp. has a 45-day option to purchase up to 15% additional common units to cover over-allotments.