Current Report Filing (8-k)
22 February 2018 - 9:48AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): February 21, 2018
InspireMD,
Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-35731
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26-2123838
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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4
Menorat Hamaor St.
Tel
Aviv, Israel
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6744832
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (888) 776-6804
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01
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Entry
into a Material Definitive Agreement.
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As
previously reported, on November 28, 2017, InspireMD, Inc. (the “Company”) entered into a Securities Purchase Agreement
(the “Agreement”) with an institutional investor (the “Series D Investor”) pursuant to which the Company
issued and sold 750 shares of its Series D Convertible Preferred Stock (the “Series D Preferred Stock”).
On
February 21, 2018, the Company and the Series D Investor entered into an amendment (the “Amendment”) to the Agreement
to (i) remove the restriction on the Company from issuing shares of common stock or securities convertible into common stock until
March 1, 2018, or until February 26, 2018, if the Company offers and sells its securities in a qualified offering, as defined
in the Agreement; (ii) require the Company to use 15% of the proceeds from any subsequent offering of our securities that is not
a qualified offering to redeem the outstanding shares of the Company’s Series C Convertible Preferred Stock (the “Series
C Preferred Stock”) held by the Series D Investor at a per share purchase price equal to the stated value of the Series
C Preferred Stock, and (iii) upon closing of any subsequent offering that is a qualified offering, to exchange all remaining outstanding
shares of Series C Preferred Stock held by the Series D Investor for any securities issued in such qualified offering on a $1.00
per stated value for $1.00 new subscription amount basis (subject to the beneficial ownership limitation set forth in the certificate
of designation for the Series C Preferred Stock). In the event that the Company fails, or is unable, to issue securities issued
in the qualified offering to the Series D Investor in exchange for such investor’s remaining Series C Preferred Stock due
to limitations mandated by the NYSE American, the Securities and Exchange Commission, or for any other reason, the Company is
required to offer to purchase from such investor those shares of Series C Preferred Stock not exchanged for the securities sold
in the qualified offering at a per share purchase price equal to the stated value of Series C Preferred Stock.
The
foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full
text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
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InspireMD,
Inc.
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Date:
February 21, 2018
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By:
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/s/
Craig Shore
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Name:
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Craig
Shore
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Title:
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Chief
Financial Officer
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