InspireMD Inc. (NASDAQ: NSPR) amended certain outstanding warrants on Sept. 21, 2026, modifying their exercise prices and termination dates so they expire either by May 15, 2028, or within 20 trading days after the company announces FDA approval for its CGuard Prime 80 cm carotid stent system — whichever comes first.
Under the amended terms, the exercise price was set at $0.7674 per share, matching the Nasdaq closing price on Sept. 18. For Series J warrants, roughly 50% of participating holders' positions were modified under the new terms, while the remaining 50% kept their original exercise price of $1.3827 and the prior termination triggers. All of the participating holders' Series K warrants were fully modified. The changes affected approximately 4.8 million Series J warrant shares and 9.5 million Series K warrant shares.
Warrants held by non-participating holders remain unchanged, and no additional warrants or shares were issued in connection with the amendments.
The CGuard Prime 80 cm is designed for transcarotid artery revascularization (TCAR) procedures, which InspireMD estimates total over 35,000 annually in the United States. Results from the company's CGUARDIANS II pivotal study showed 100% acute device success and zero major adverse events at 30 days among the first 36 patients evaluated. The company anticipates FDA approval for the device in the fourth quarter of 2026.
Proceeds from warrant exercises, combined with existing cash balances, are expected to fund the product launch. InspireMD said additional information regarding the amendments will be filed in a Form 8-K with the Securities and Exchange Commission.
The company's SwitchGuard transcarotid system is currently in a Phase III clinical study.
