Current Report Filing (8-k)
15 Agosto 2022 - 5:20PM
Edgar (US Regulatory)
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0001609550
2022-08-11
2022-08-11
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iso4217:USD
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
August 11, 2022
INSPIRE MEDICAL SYSTEMS, INC.
(Exact name of registrant as specified in
its charter)
Delaware |
|
001-38468 |
|
26-1377674 |
(State or other jurisdiction of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification
No.) |
5500 Wayzata Blvd., Suite 1600
Golden Valley, Minnesota 55416
(Address of principal executive offices)
(Zip Code)
(844) 672-4357
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant
to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.001 par value per share |
|
INSP |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On August 11, 2022, Inspire Medical Systems, Inc. (the “Company”)
entered into an underwriting agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC (the “Underwriter”)
in connection with the public offering, issuance and sale by the Company of 1,000,000 shares of the Company’s common stock, $0.001
par value per share (the “Common Stock”), at a public offering price of $215.00 per share, less underwriting discounts and
commissions, pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-237654) and a related prospectus
supplement filed with the Securities and Exchange Commission. Under the terms of the Underwriting Agreement, the Company also granted
the Underwriter an option exercisable for 30 days to purchase up to an additional 150,000 shares of its common stock at the public offering
price, less underwriting discounts and commissions, which option was exercised in full prior to the closing of the offering. The closing
of the offering occurred on August 15, 2022.
The Company estimates the net proceeds from the offering, including
from the exercise by the Underwriter of its option to purchase additional shares as described above, will be approximately $243.8 million,
after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to
use the net proceeds of the offering to continue to hire sales and marketing personnel and expand marketing programs in the United States,
Europe and the Asia Pacific region, to reduce outstanding borrowings under the Company’s credit facility, to fund product development
and research and development activities and the remainder for working capital and other general corporate purposes.
The Underwriting Agreement contains customary representations, warranties
and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriter, including
for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions.
The foregoing description of the Underwriting Agreement is not complete
and is qualified in its entirety by reference to the full text of the Underwriting Agreement, a copy of which is filed as Exhibit 1.1
to this Current Report on Form 8-K and is incorporated by reference herein.
Latham & Watkins LLP, counsel to the Company, has issued an opinion
to the Company, dated August 15, 2022, regarding the validity of the shares of common stock to be issued and sold in the offering. A copy
of the opinion is filed as Exhibit 5.1 to this Current Report on Form 8-K.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
INSPIRE MEDICAL SYSTEMS, INC. |
|
|
Date: August 15, 2022 |
By: |
/s/ Bryan K. Phillips |
|
|
Bryan K. Phillips |
|
|
Sr. Vice President, General Counsel and Secretary |
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