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IceCure Medical has successfully closed its oversubscribed rights offering, raising approximately $10 million in gross proceeds. The company plans to use the funds to repay a bridge loan and for general corporate purposes, strengthening its financial position and supporting ongoing operations and market expansion efforts. IceCure Medical is a company specializing in cryoablation therapy systems for treating various cancers.

IceCure Medical (NASDAQ: ICCM), a developer of minimally-invasive cryoablation technology, has successfully completed its rights offering, raising approximately $10 million in gross proceeds. The company's rights offering, which was oversubscribed by approximately two times the offering size, has significantly bolstered its financial position. The funds will be used to repay a bridge loan and for general corporate purposes, supporting ongoing operations and market expansion efforts [1].

The rights offering was structured to allow shareholders to purchase 0.1703 units at $1.00 per unit, with each unit comprising one ordinary share and one warrant. This favorable structure enabled existing shareholders to participate proportionally and avoid dilution. The over-subscription privilege, which saw 4,627,771 units issued, demonstrates substantial investor appetite beyond initial allocations [1].

IceCure Medical's cryoablation technology serves as an alternative to surgical tumor removal, offering a minimally-invasive approach to cancer treatment. The successful capital raise comes at a critical time for medical device companies facing challenging market conditions, suggesting that IceCure's value proposition continues to resonate with investors [1].

Looking ahead, IceCure Medical is expected to report a fall in quarterly revenue when it releases its earnings on August 4, with a 34.5% decrease in revenue to $662.5 thousand from $1.01 million a year ago. Analysts estimate a loss of 6 cents per share for the period ending June 30, 2025 [3].

References:
[1] https://www.stocktitan.net/news/ICCM/ice-cure-announces-expiration-and-results-of-approximately-two-times-cf1rryxu2sio.html
[3] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3TT2A2:0-icecure-medical-ltd-expected-to-post-a-loss-of-6-cents-a-share-earnings-preview/