DOMA Perpetual Capital Management LLC, which holds approximately 4.63% of InMode Ltd. (NYSE: INMD) shares, has sent a letter to InMode's board of directors opposing a proposed acquisition of the company led by its chief executive officer in partnership with a group of investors.

In the letter dated June 26, 2026, DOMA said it does not support the $16.20-per-share offer, stating it "materially undervalues the Company," and said it intends to vote against the transaction.

DOMA raised concerns about conflicts of interest, noting that the same CEO it publicly urged the board to replace in a May 2025 letter appears positioned to benefit from the proposed buyout. The firm argued the offer would allow management to acquire the company at a valuation it believes was depressed under that same management's stewardship.

The firm called on InMode's board to establish a fully independent special committee with no ties to management, retain independent financial and legal advisors, conduct a broad market check for superior offers, and provide full disclosure of any conflicts of interest involved in the process.

"The Board has fiduciary obligations to act in the best interests of all shareholders, not management or any specific investor group," wrote Pedro Escudero, CEO and CIO of DOMA Perpetual Capital Management.

DOMA noted it reserves all rights in connection with the proposed transaction and may change its position at any time.