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InspireMD Ltd. Raises $23 Million for MGuard Stent


4/23/2013 8:28:39 AM

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InspireMD nets nearly $23 million from a public stock offering, saying it plans to use the proceeds to pursue U.S. approval of its MGuard coronary and carotid stents. InspireMD (OTC:NSPR) said it added some $23 million to its coffers in a public stock offering. The Tel Aviv-based medical device company makes the MGuard device, designed to protect against embolism after stenting procedures. InspireMD said it plans to put the $22.6 million in net proceeds from the sale of 12.5 million shares at $2 per to a variety of uses.

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