10:31 AM EDT, 06/25/2025 (MT Newswires) -- IceCure Medical ( ICCM ) said Wednesday that its board approved a $10 million rights offering to all ordinary shareholders of record on July 9.

Under the offering, each holder will receive one right to subscribe to 0.1703 of a unit for each ordinary share.

Each unit will include one share and a warrant to purchase one share at a subscription price of $1 per unit, or one prefunded warrant to buy a share and a warrant to purchase a share for $0.9999, according to the company.

The subscription rights will expire at 5 pm on July 28, IceCure added.

The company said that Epoch Partner Investments, the biggest shareholder, agreed to buy all the units they are entitled to, plus any remaining units that other shareholders do not buy, up to a total of $5 million.

Proceeds from the offering will be used to repay the principal and any accrued interest from its bridge loan, general corporate purposes and working capital.

Shares of the company were down 6.2% in recent trading.

Price: 0.92, Change: -0.07, Percent Change: -6.90