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

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: [phone], facsimile: [phone] or via email: [e-mail].

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.