On June 25, 2025, IceCure Medical Ltd. announced that its board of directors approved a rights offering to raise up to $10 million. The record date for the offering is set for July 9, 2025, with the subscription period expected to expire on July 28, 2025. Each holder of ordinary shares as of the record date will receive one right for each share held, entitling them to subscribe for 0.1703 of a unit at a price of $1.00 per unit.
Each unit will be comprised of one ordinary share and a warrant to purchase one ordinary share, or a pre-funded warrant unit at $0.9999. Epoch Partner Investments Limited, IceCure's largest shareholder, has committed to participate in the rights offering and exercise its subscription right in full, including any over-subscription privilege, to purchase units with an aggregate subscription price of up to $5 million. This commitment demonstrates strong shareholder confidence in the company's future.
The company intends to use the proceeds from the rights offering to repay a $2 million unsecured bridge loan from Epoch, granted on May 17, 2025, and for general corporate and working capital purposes. This capital raise is crucial for funding ongoing regulatory, clinical, and commercial initiatives, particularly as IceCure prepares for potential U.S. market entry for breast cancer.
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