SCHEDULE: Rosalind Entities Disclose 9.2% Stake in InspireMD

Rosalind Advisors and affiliated funds reported a 9.2% beneficial ownership in InspireMD, Inc., primarily through common stock and warrants, with exercise limitations due to blocker provisions.

Summary

• Rosalind Advisors, Inc., Steven Salamon, and Gilad Aharon collectively reported beneficial ownership of 10,987,104 shares of InspireMD, Inc. common stock, representing 9.2% of the class.
• This aggregate includes 3,905,743 shares of common stock and 7,081,361 shares issuable upon the exercise of warrants.
• Rosalind Master Fund L.P. reported beneficial ownership of 9,485,697 shares (8.3%), comprising 3,508,336 common shares and 5,977,361 warrant shares.
• Rosalind Opportunities Fund I L.P. reported beneficial ownership of 1,501,407 shares (1.0%), comprising 397,407 common shares and 1,104,000 warrant shares.
• The reported percentages are based on 42,370,995 shares of common stock outstanding as of November 10, 2025.
• A blocker provision prevents the exercise of warrants if it would result in beneficial ownership exceeding 9.99% of the Common Stock, meaning the reporting persons were unable to exercise warrants as of the filing date.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control, except for activities related to a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant institutional investor group maintains a substantial stake, indicating continued interest. However, the blocker provision on warrants introduces a technical limitation on their full ownership potential.

Positives

• A significant institutional investor group maintains a substantial stake in InspireMD, indicating continued interest.
• The filing explicitly states the acquisition is in the ordinary course of business and not for control, which can signal stability.

Negatives

• The inability to exercise a large portion of warrants due to blocker provisions limits the immediate upside for the reporting persons and could indicate a potential overhang if those blockers are removed or the ownership structure changes.

Risks

• The existence of a "blocker provision" on 7,081,361 shares issuable upon warrant exercise means these shares cannot be converted if it pushes beneficial ownership above 9.99%, potentially limiting the reporting persons' ability to fully realize their investment or influence.
• The large number of unexercised warrants (7,081,361 shares) represents potential future dilution if the blocker provisions are modified or waived, or if the ownership percentage drops below the threshold.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

Industry Context

StockSavvy.ai notes that institutional filings like this Schedule 13G provide transparency into significant ownership stakes, which can influence market perception of a company's stability and investor confidence. For a medical device company like InspireMD, a consistent institutional presence can signal long-term belief in its product pipeline and market potential, despite the technical limitations on warrant exercise.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, potentially influencing market sentiment. The blocker provision might be a point of interest regarding future dilution potential.
• Company Management: Awareness of a large, stable institutional holder can influence strategic decisions and investor relations.

Key Dates

Recommendation

The filing indicates a stable, significant institutional ownership stake, which can be a positive signal for long-term confidence. However, it does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. The presence of blocker provisions on warrants adds a layer of complexity to the full beneficial ownership picture, suggesting a 'hold' until further operational updates or changes in the ownership structure are disclosed.

Keywords

InspireMD, Rosalind Advisors, Schedule 13G, Beneficial Ownership, Common Shares, Warrants, Blocker Provision, Institutional Investor, Equity Stake, Medical Devices