InspireMD (OTC:NSPR)  this week priced a new public offering, looking to bring in approximately $15 million through the sale of 442,424 shares of Series B convertible preferred stock and accompanying warrants to purchase approximately 44.2 million shares of common stock.

Each share of Series B convertible preferred stock being offered in the round is convertible to 100 shares of common stock at a conversion price equal to 33¢ per share, with cumulative dividends at a rate per share of 15% per annum of the value for 5 years.

Gross proceeds from the round, which the company expects to be apprximately $14.6 million, will be used to support sales activities related to its CGuard EPS, MGuard Prime EPS and for product development, as well as general corporate purposes, according to a press release.

The offering is expected to close on or about July 7, 2016, with Dawson James Securities acting as the sole placement agent.

In March, InspireMD said it opened an underwritten public offering looking to bring in approximately $1.1 million through the sale of 1.9 million shares to support its CGuard EPS and MGuard Prime EPS.

The Boston-based company said it will offer up 1.9 million shares of common stock at 59¢ per share, with warrants issued for the purchase of up to an additional 950,000 shares of common stock for the same price for up to 5 years from the date of issuance.

In December, InspireMD said it won European Union regulatory approval, including CE Mark approval, for the manufacturing and commercialization of its CGuard stent delivery catheter.

The approval also allows InspireMD to add-on manufacturing facilities for the device to enable more efficient work flow, the Boston-based company said.