DOMA Perpetual Urges InMode to Execute Tender Offer and Share Buyback

MIAMI, Jan 15, 2025 /PRNewswire/ -- DOMA Perpetual Capital Management LLC, a significant stockholder of InMode Ltd. (NYSE: INMD), today sent a letter to the Board of Directors of InMode urging the Board to immediately execute a tender offer for 30% of the Company, followed by a 10% share buyback in 2025. The letter, sent by Pedro Escudero, CEO and CIO of DOMA Perpetual, outlines an action plan to restore investor confidence in the Company.



In the letter, Escudero argues that InMode's current valuation is historically low, with its market capitalization trading at less than the cash on hand plus projected 3-year cumulative free cash flow. He also notes that InMode's cash balance of roughly 55% of its market cap is grossly inefficient, and that the Company's board of directors has no excuse not to act while the Company's stock is so historically cheap.

Escudero criticizes the Board's failure of oversight, citing three key issues: the recent actions of CEO Moshe Mizrahy, which have created instability in the Company and driven down its stock price; the Board and management's lack of concrete efforts to diversify production away from Israel; and the Board's failure to return the significant amount of cash on the balance sheet to shareholders.



To address these issues, Escudero proposes that the Board immediately execute a tender offer for 30% of the Company, to be followed by a 10% buyback for 2025. He argues that this would reduce InMode's cash level to less than $100 million, restore shareholder confidence in the Board, and create value for shareholders.

Escudero concludes the letter by announcing DOMA Perpetual's intent to fight for shareholders should InMode not take appropriate action. He emphasizes that the Board has a responsibility to act in the best interests of the Company's shareholders and urges them to take immediate action to restore investor confidence and create value for the Company.



InMode Ltd. is a global medical technology company that specializes in minimally invasive and non-invasive cosmetic procedures. The Company's products are used by plastic surgeons, dermatologists, and other medical professionals to perform a wide range of cosmetic procedures, including face and body contouring, skin tightening, and hair removal. InMode's shares are traded on the New York Stock Exchange under the ticker symbol INMD.