Inspira Technologies OXY, which is developing minimally invasive devices for mechanical ventilation, raised $16 million by offering 2.9 million units at $5.51, within the range of $5.50 to $7.50. The company offered 0.6 million more units than anticipated. Each unit consists of one ordinary share and one warrant, exercisable at $5.50. At pricing, the company commands a fully diluted market value of $44 million.
Because the company's market cap is less than $50 million and the offering contained warrants, Inspira Technologies OXY will be excluded from Renaissance Capital's stats.
Inspira Technologies OXY plans to list on the Nasdaq under the symbol IINN. Aegis Capital Corp. acted as sole bookrunner on the deal.
