Update: InMode Shares Rise After Steel Partners Makes Offer for Majority Stake

MT Newswires Live

01/31

(Updates with company response in the last paragraph.)

InMode (INMD) shares rose 5.2% in Thursday trading, a day after Steel Partners Holdings said in a letter to shareholders that it made an offer for 51% of the company at $18 a share.

This offer represents a 29% premium over InMode's closing share price on Jan. 23, before takeover speculation emerged, said Steel Partners, which owns 1.3% of InMode's stock.

Steel Partners "recently attempted to engage in a private dialogue with InMode's leadership around our attractive proposal, but have so far been rebuffed," according to the letter.

In response to an MT Newswires request for comment, an InMode spokesperson said the company does not comment on rumors, speculation, or discussions with third parties. The board will evaluate matters as per its fiduciary duties, the spokesperson said.

Price: 15.80, Change: -0.22, Percent Change: -1.37

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