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Inspire Medical Systems, Inc. Announces Pricing of Offering of Common Stock

Inspire Medical Systems, Inc.
Inspire Medical Systems, Inc.

MINNEAPOLIS, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (“Inspire”), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, announced today the pricing of an underwritten public offering of 1,000,000 shares of its common stock, at a public offering price of $215.00 per share, before underwriting discounts and commissions. In addition, Inspire has granted the underwriter a 30-day option to purchase up to an additional 150,000 shares of its common stock at the public offering price, less underwriting discounts and commissions, to cover sales by the underwriter in the initial offering of the shares or in the open market. All of the shares in the offering are to be sold by Inspire. The offering is expected to close on August 16, 2022, subject to customary closing conditions.

Goldman Sachs & Co. LLC is acting as the sole underwriter for the proposed offering.

The securities described above are being offered pursuant to an effective shelf registration statement on Form S-3, including a base prospectus, which was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 13, 2020. This offering is being made only by means of a prospectus supplement and the accompanying base prospectus which forms a part of the effective shelf registration statement.

A preliminary prospectus supplement related to the offering (including the accompanying base prospectus) has been previously filed with the SEC and is available free of charge on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement related to this offering may be obtained, when available, from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone: (866) 471-2526, facsimile: (212) 902-9316 or via email: prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Inspire Medical Systems

Inspire is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including statements regarding our proposed sale of common stock in the offering described above. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” “guidance,” ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential,’’ ‘‘continue,’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.

These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the factors discussed under the caption “Risk Factors” and elsewhere in the prospectus supplement related to the proposed offering and the documents incorporated by reference therein, and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investors page of our website at www.inspiresleep.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor and Media Contact
Bob Yedid
LifeSci Advisors