InMode Receives Acquisition Proposal from M.N. Business at $16.20 per Share

InMode announced that, on June 17, its board of directors received an unsolicited proposal from M.N. Business Strategy, Ltd. to acquire through a merger all of the outstanding ordinary shares of the company not already owned by MN Business Strategy and its affiliates for $16.20 per share in cash. "MN Business Strategy is a group that includes, among others, Moshe Mizrahy, the Company's co-founder and Chief Executive Officer. The Board has approved formation of a special committee comprised solely of independent directors to evaluate the Proposal. The special committee will, in consultation with its advisors, evaluate the Proposal in accordance with its fiduciary duties and the best interests of the Company and all of its shareholders. There can be no assurance as to whether this evaluation will result in a transaction or any other strategic outcome for the Company, or as to the timing or terms of any such transaction or outcome. The Company does not intend to comment further on the special committee process or provide additional updates unless and until required to do so under applicable law or regulation," the company stated.