IceCure Medical Launches Rights Offering for Growth and Innovation in Cryoablation Technology
IceCure Medical Initiates Rights Offering
On July 10, 2025, IceCure Medical Ltd., a developer of innovative minimally-invasive cryoablation technology, announced the commencement of a significant rights offering. This initiative allows current shareholders to exercise their rights to purchase units of ordinary shares and warrants, all while aiming to raise an impressive total of $10 million.
Overview of the Rights Offering
The rights offering will distribute non-transferable subscription rights to all holders of IceCure’s ordinary shares as of the record date, July 9, 2025. Each existing shareholder will receive one subscription right for every share they hold, giving them the opportunity to acquire 10,000,000 units at a subscription price of $1.00 each. Notably, each unit consists of one ordinary share and a warrant for the purchase of an additional ordinary share.
The offering allows shareholders to take part in this strategic move by the company to bolster its financial position. Each subscription right will enable its holder to purchase 0.1703 of a unit. Importantly, fractional subscription rights will not be distributed, and shareholders must exercise rights for at least one whole unit to participate.
Important Dates and Mechanics
The subscription period for shareholders will run from July 10 until July 28, 2025. If any subscription rights are not exercised before the expiration date, they will expire without value. The company has retained the option to extend this subscription period if necessary. Furthermore, holders who fully exercise their rights will be eligible for additional units should others remain unsubscribed.
Epoch Partner Investments Limited, the largest shareholder of IceCure, has committed to participating in the offering substantially. They plan to exercise their rights fully and potentially purchase additional units not claimed by other shareholders.
Use of Proceeds
Proceeds from this rights offering will be instrumental for IceCure Medical. The funds are primarily intended to repay an unsecured loan that the company received earlier this year amounting to $2 million, made by Epoch. This loan, which bears an interest rate of 4.05%, will be repaid either after a year or upon completion of the rights offering. Additionally, the proceeds will be utilized for general corporate purposes and working capital, ensuring the company's readiness for future endeavors.
Strategic Implications
IceCure Medical specializes in developing advanced cryoablation systems that utilize liquid nitrogen to effectively target and destroy tumors, including benign and malignant variants. Their systems are designed for various cancers, such as breast, kidney, lung, and bone cancers, emphasizing a minimally invasive approach as a safe alternative to traditional surgery.
The flagship technology, the ProSense® system, is already established in markets across the U.S., Europe, and Asia, contributing to global healthcare innovation. IceCure’s forward-looking strategy, encapsulated in this rights offering, demonstrates their commitment to improving access to their transformative health solutions while enhancing shareholder participation in the process.
Conclusion
As IceCure Medical embarks on this rights offering, it is setting the stage for potential growth and enhanced capabilities in the cryoablation sector. Shareholders are encouraged to make independent decisions regarding their subscription rights, thereby playing an integral role in the company’s journey towards further advancements in cancer treatment technology. For inquiries regarding the offering, shareholders can reach out to Maxim Group LLC, the appointed dealer-manager.
This development portrays IceCure Medical as a proactive entity in the healthcare space, focused on innovation and patient outcomes. With the backing of significant stakeholders and a clear roadmap ahead, the company appears well-positioned to make substantial strides in the fight against cancer.