Inspira Technologies OXY, which is developing minimally invasive devices for mechanical ventilation, lowered the proposed deal size for its upcoming IPO on Tuesday.
The Tel-Aviv, Israel-based company now plans to raise $15 million by offering 2.3 million units at a price range of $5 to $8. Each unit consists of one ordinary share and one warrant, exercisable at the IPO price. The company had previously filed to offer 2.8 million shares at a range of $5.50 to $6.50. At the midpoint of the revised range, Inspira Technologies OXY will raise -9% less in proceeds than previously anticipated. Because the company is now offering units with warrants attached, Inspira Technologies OXY no longer qualifies for tracking and will be excluded from Renaissance Capital's stats.
Inspira Technologies OXY was founded in 2018 and plans to list on the Nasdaq under the symbol IINN. The Benchmark Company is the sole bookrunner on the deal.
