Start Time: 08:30 January 1, 0000 8:53 AM ET

InspireMD, Inc. (NASDAQ:NSPR)

Q1 2023 Earnings Conference Call

May 16, 2023, 08:30 AM ET

Company Participants

Marvin Slosman - CEO

Craig Shore - CFO

Glenn Garmont - IR, LifeSci Advisors

Conference Call Participants

Benjamin Haynor - Alliance Global Partners

Operator

Good day, and welcome to the InspireMD First Quarter 2023 Earnings Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded.

Now, I'll like to turn the call over to Mr. Glenn Garmont with LifeSci Advisors. Please go ahead, sir.

Glenn Garmont

Thank you, operator, and good morning, everyone. Thank you for joining us for the InspireMD first quarter 2023 financial results and corporate update conference call. Joining us today from InspireMD are Marvin Slosman, Chief Executive Officer; and Craig Shore, Chief Financial Officer.

During this call, management will be making forward-looking statements, which are not historical facts and are based upon management's current expectations, beliefs and projections, many of which by their nature are inherently uncertain. They involve risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. For more information about these risks, please refer to the risk factors described in InspireMD's most recently filed periodic reports on Form 10-K and Form 10-Q filed with the U.S. Securities and Exchange Commission and InspireMD's press release that accompanies this call, particularly the cautionary statements made in it. The call contains time-sensitive information that is accurate only as of today, May 16, 2023. Except as required by law, InspireMD disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

It is now my pleasure to turn the call over to Marvin Slosman, Chief Executive Officer. Marvin, please go ahead.

Marvin Slosman

Thank you, Glenn, and thanks to everyone for joining the call this morning. Without a doubt, the most significant development since our last quarterly update and one of the most significant milestones in InspireMD's history is our completion of a transformational financing through a private placement of up to $113 million. The financing was led by Marshall Wace with participations by OrbiMed, Soleus, Nantahala, Rosalind, and Velan Capital.

These are amongst the most highly regarded medical technology institutional investors. It's also worth noting that certain number of our Board members have also elected to participate in the offering. We are both inspired and humbled by this vote of confidence which fuels our company's growth and enables our strategic goal to change the therapeutic standard of care in the carotid disease market.