Shares of Inspire Veterinary Partners Inc (NASDAQ:IVP) dropped 2% after the pet healthcare services provider announced a new convertible preferred stock offering valued at up to $10 million.
The company disclosed that the securities purchase agreement includes a mix of cash and transferred securities priced at $1.00 per share. The initial closing is expected to raise $6 million through cash and securities investments, with up to $4 million potentially raised in subsequent closings at the investors’ discretion.
Proceeds from the offering are intended to support general working capital needs and fund acquisitions of additional veterinary practices. The capital will also assist Inspire in addressing Nasdaq’s shareholder equity requirements and extend its operational runway.
“As communicated earlier in 2025, the team at IVP is executing on our growth strategy, and this offering helps to facilitate our objectives,” said Kimball Carr, President, Chairman, and CEO. “With new acquisitions onboarded and record clinical hiring this year, I am incredibly proud of the continued progress across all departments within IVP.”
The company emphasized that the announcement does not constitute an offer to sell or a solicitation to buy securities, and no sales will be made in jurisdictions where such transactions would be unlawful without appropriate registration or qualification.
Inspire Veterinary Partners stock price
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