InspireMD Regains Compliance with NYSE AMERICAN Listing Standards
August 10 2020 - 6:30AM
InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard™
Embolic Prevention System (EPS) for the prevention of stroke caused
by the treatment of carotid artery disease, today announced that as
of August 7, 2020, the Company has regained compliance with the
NYSE American’s continued listing standards.
As previously disclosed, on August 14, 2019, the
Company received a Deficiency Letter from the NYSE American stating
that InspireMD was not in compliance with certain NYSE American
continued listing standards relating to stockholders’ equity.
Specifically, InspireMD was not in compliance with Part 10, Section
1003(a)(iii) of the NYSE American Company Guide, due to the fact
the Company had reported stockholders’ equity of less than $6
million as of June 30, 2019 and had net losses in its five most
recent fiscal years ended December 31, 2018. Following the recently
announced funding transaction in which the Company raised net
proceeds after offering expenses of approximately $10.7 million,
the Company has successfully solved the non-compliance issue.
About InspireMD, Inc.InspireMD
seeks to utilize its proprietary MicroNet® technology to make its
products the industry standard for carotid stenting by providing
outstanding acute results and durable stroke free long-term
outcomes.
InspireMD’s common stock is quoted on the NYSE
American under the ticker symbol NSPR and certain warrants are
quoted on the NYSE American under the ticker symbol NSPR.WS and
NSPR.WSB.
Forward-looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) negative
clinical trial results or lengthy product delays in key markets,
(iii) an inability to secure regulatory approvals for the sale of
our products, (iv) the impact of the COVID-19 pandemic on our
manufacturing, sales, business plan and the global economy; (v)
intense competition in the medical device industry from much
larger, multinational companies, (vi) product liability claims,
(vii) product malfunctions, (viii) our limited manufacturing
capabilities and reliance on subcontractors for assistance, (ix)
insufficient or inadequate reimbursement by governmental and other
third party payers for our products, (x) our efforts to
successfully obtain and maintain intellectual property protection
covering our products, which may not be successful, (xi)
legislative or regulatory reform of the healthcare system in both
the U.S. and foreign jurisdictions, (xii) our reliance on single
suppliers for certain product components, (xiii) the fact that we
will need to raise additional capital to meet our business
requirements in the future and that such capital raising may be
costly, dilutive or difficult to obtain and (xiv) the fact that we
conduct business in multiple foreign jurisdictions, exposing us to
foreign currency exchange rate fluctuations, logistical and
communications challenges, burdens and costs of compliance with
foreign laws and political and economic instability in each
jurisdiction. More detailed information about the Company and the
risk factors that may affect the realization of forward looking
statements is set forth in the Company’s filings with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC’s web site at http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events or otherwise.
Investor Contacts:Craig
ShoreChief Financial OfficerInspireMD,
Inc.888-776-6804craigs@inspiremd.com
CORE IR investor-relations@inspiremd.com
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