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InspireMD Secures Financing to Accelerate Advancements in Product Development and Adopts a One Year Stockholder Rights Plan
Date:10/24/2013

yahoo.com/q?s=htgc">HTGC). The funding is in the form of secured indebtedness bearing interest at a calculated prime-based variable rate currently set at 10.5%. Payments under the loan agreement are interest only for 9 months, followed by 30 monthly payments of principal and interest through the scheduled maturity date on February 1, 2017. In connection with the loan agreement, InspireMD issued Hercules warrants, which are exercisable for 168,351 shares of Common Stock at a per share exercise price of $2.97.

Stockholder Rights Plan

As noted above, on October 22, 2013, the Company's Board adopted a stockholder rights plan (the "Rights Plan") and declared a dividend of one right on each outstanding share of InspireMD's common stock.

The Rights Plan is designed to assure that all of InspireMD's stockholders receive fair and equal treatment in the event of any proposed takeover of the company and to guard against tactics to gain control of InspireMD without paying all stockholders a premium for that control.  InspireMD's Board deemed it appropriate and prudent to adopt the Rights Plan at this time. 

The Rights Plan is intended to enable all InspireMD stockholders to realize the long-term value of their investment in the company.  It will not prevent a takeover, but should encourage anyone seeking to acquire the company to negotiate with the Board.

Pursuant to the Rights Plan, InspireMD is issuing one preferred share purchase right for each outstanding share of common stock at the close of business on November 15, 2013. Initially, the rights will not be exercisable and will trade with the company's shares of common stock.

Under the Rights Plan, the rights will generally become exercisable only if a person or group acquires beneficial ownership of 15% or more of the Company's common stock in a transaction not approved by InspireMD's Board.  In that situation, each holder of a right (other than the acq
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