RA'ANANA, Israel - Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN, IINNW), a company specializing in advanced respiratory care technology, has announced a registered direct offering of ordinary shares resulting in expected proceeds of $1.65 million.
The strategic investment comes from Mr. Ronen Juster, a notable investor, and Ms. Margi Ben-Noon, the mother of Inspira's CEO.
The company will issue 1,339,285 ordinary shares for $1.232 per share. The transaction is anticipated to close on or about Tuesday, subject to standard closing conditions. Inspira has expressed intentions to allocate the net proceeds for working capital and general corporate purposes.
This offering is being conducted in accordance with a shelf registration statement on Form F-3, filed with the Securities and Exchange Commission (SEC) on August 10, 2022, and declared effective on August 18, 2022. The sale of securities will occur only through a prospectus supplement as part of the registration statement.
Inspira Technologies is focusing on direct blood oxygenation technology that could reduce reliance on traditional mechanical ventilation. The company is also advancing blood circulation technology and integrating AI-driven monitoring systems, aiming to improve patient outcomes and hospital efficiency.
The information in this article is based on a press release statement.
InvestingPro Insights
In the wake of Inspira Technologies' recent announcement regarding its registered direct offering, several key metrics and insights from InvestingPro provide a more granular look into the company's financial health and market performance. With a market capitalization of $23.39 million, Inspira Technologies is navigating the competitive landscape of medical technology with a clear strategy, despite facing financial challenges as indicated by a negative P/E Ratio of -1.88, adjusted to -2.07 for the last twelve months as of Q4 2023.
InvestingPro Tips suggest that while Inspira Technologies holds more cash than debt, which is a positive indicator of the company's liquidity, it is also rapidly burning through its cash reserves. The company's gross profit margins are weak, and it has not been profitable over the last twelve months. However, it is worth noting that Inspira's liquid assets exceed its short-term obligations, which may provide some financial flexibility in the near term. Additionally, the company has experienced a strong return over the last three months with a 65.09% increase, yet it does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income.
Investors interested in a deeper dive into Inspira Technologies can find additional InvestingPro Tips to guide their analysis. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 6 additional tips listed on InvestingPro for Inspira Technologies, which can be accessed through the dedicated page: https://www.investing.com/pro/IINN
As Inspira Technologies continues to innovate in the realm of respiratory care technology, these financial insights will be crucial for investors monitoring the company's ability to capitalize on its technological advancements and translate them into sustainable growth and profitability.
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