SCHEDULE: Rosalind Funds Report 9.4% Stake in InspireMD

Rosalind Advisors and affiliated funds disclose a 9.4% beneficial ownership in InspireMD, Inc., primarily through common shares, with warrant exercise limited by blocker provisions.

Summary

• Rosalind Advisors, Inc., Steven Salamon, Gil Aharon, Rosalind Master Fund L.P., and Rosalind Opportunities Fund I L.P. collectively reported beneficial ownership in InspireMD, Inc.
• The reporting persons collectively hold 3,905,743 common shares.
• Additionally, they hold warrants exercisable for 7,081,361 shares of common stock.
• Due to a 'blocker provision,' the reporting persons are currently unable to exercise warrants if it would result in beneficial ownership exceeding 9.99% of the common stock.
• As a result, the actual beneficial ownership, after giving effect to these blockers, is approximately 9.4% of the common stock, based on 3,905,743 shares.
• The filing states a 9.9% beneficial ownership on the cover page for Rosalind Advisors, Steven Salamon, Gil Aharon, and Rosalind Master Fund L.P., and 3.5% for Rosalind Opportunities Fund I L.P., which represents the potential ownership including warrants before applying blocker provisions.
• The percentage of class is based on 41,720,662 common shares outstanding of InspireMD, Inc. as of August 1, 2025.

Sentiment

Score: 7

Explanation: The filing indicates a significant passive institutional investment in InspireMD, Inc., which is generally positive for market confidence. However, the presence of a blocker provision limiting the immediate exercise of warrants introduces a minor constraint on the investor's full potential ownership.

Positives

• Increased institutional ownership by Rosalind Advisors and its affiliated funds, indicating a significant passive investment in InspireMD, Inc.

Negatives

• The immediate exercise of 7,081,361 shares from warrants is restricted by a 9.99% blocker provision, meaning the reporting persons could not exercise these warrants as of the filing date.
• The actual beneficial ownership, after applying the blocker provisions, is approximately 9.4% of the common stock, which is less than the total potential ownership reported.

Risks

• No specific company-level operational or financial risks are detailed in this ownership disclosure.

Future Outlook

This filing, a Schedule 13G, does not contain forward-looking statements or guidance from InspireMD, Inc.

Management Comments

• No direct management comments from InspireMD, Inc. are included in this ownership filing.

Industry Context

This Schedule 13G filing primarily concerns changes in beneficial ownership and does not provide broader industry context or trends.

Comparison to Industry Standards

• This ownership filing does not provide data for comparison to industry standards or global benchmarks.

Management Changes

Corporate Governance

Legal Proceedings

• No legal proceedings or regulatory matters are disclosed in this filing.

Related Party Transactions

• No related party transactions are disclosed in this filing.

Stakeholder Impact

• Shareholders may view the increased institutional ownership as a positive signal of investor confidence.

Next Steps

• No specific future actions or milestones for InspireMD, Inc. are mentioned in this ownership filing.

Key Dates

Recommendation

This Schedule 13G filing indicates a significant passive investment by Rosalind Advisors and its affiliated funds in InspireMD, Inc. While increased institutional ownership can be a positive signal, this filing primarily details ownership structure and does not provide new financial performance data or strategic updates that would warrant a change in investment thesis. The presence of warrant blocker provisions also limits the immediate impact of the full potential ownership. Therefore, a 'hold' recommendation is appropriate as this filing does not present new information compelling enough to alter an existing investment position.

Keywords

InspireMD, Common Shares, Schedule 13G, Beneficial Ownership, Rosalind Advisors, Warrants, Institutional Investor, Passive Investment