IceCure Medical starts $10 million rights offering

IceCure Medical Ltd. (NASDAQ: ICCM) commenced a rights offering on July 10, 2025, allowing shareholders to purchase up to 10 million units at $1.00 per unit.

The medical device company is distributing subscription rights to shareholders of record as of July 9, 2025. Each shareholder receives one subscription right for every ordinary share owned, with each right entitling the holder to purchase 0.1703 of a unit. Each unit consists of one ordinary share and one warrant to purchase an additional ordinary share.

The subscription rights expire at 5:00 p.m. Eastern Time on July 28, 2025, unless extended by the company. Rights that remain unexercised will expire worthless.

Epoch Partner Investments Limited, the company's largest shareholder, committed to participate in the rights offering and purchase units with an aggregate subscription price of up to $5 million. Li Haixiang, Epoch's sole director, serves on IceCure's board of directors.

IceCure plans to use the proceeds to repay a $2 million bridge loan from Epoch that was provided on May 17, 2025, with 4.05% interest. The remaining funds will support general corporate and working capital purposes.

The offering is being conducted under a registration statement declared effective by the Securities and Exchange Commission on July 9, 2025. Maxim Group LLC serves as dealer-manager for the transaction.

IceCure develops cryoablation technology that destroys tumors through freezing as an alternative to surgical removal. The company's ProSense system is marketed globally for treating breast, kidney, bone and lung cancers.

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