Shares of InMode Ltd. (NASDAQ:INMD) climbed 11% on Wednesday after the company confirmed it had received an unsolicited takeover proposal from a group that includes its co-founder and Chief Executive Officer, Moshe Mizrahy.
The proposal was submitted by M.N. Business Strategy, Ltd., a group that the company says includes Mizrahy and his affiliates. The group has offered to purchase all outstanding ordinary shares not currently held by its members for $16.20 per share in cash. That offer compares with InMode's closing share price on Tuesday of $13.35, meaning the proposal represents a 21% premium to the prior close.
The InMode Board of Directors reported that it received the proposal on June 17, 2026. In response, the board has established a special committee composed solely of independent directors. That committee has been tasked with evaluating the proposal and will do so in consultation with its advisors. The company emphasized that the committee's review will be conducted in accordance with its fiduciary duties and with the best interests of the company and all shareholders in mind.
InMode made clear that there is no assurance the evaluation process will lead to a transaction or any other strategic outcome. The company also noted there is no certainty regarding the timing or the final terms of any potential deal. InMode stated it does not intend to provide further updates on the matter unless required to do so under applicable law or regulation.
The announcement and the board's establishment of an independent special committee follow the terms of the cash offer as presented by M.N. Business Strategy, Ltd. Management and the committee will assess the proposal with external advisors and are bound by fiduciary obligations in that review process. Shareholders and market participants will be waiting to see whether the special committee's work produces a recommendation or alternative outcomes, but the company has warned there is no guarantee of any subsequent announcement.
Contextual note - The details above reflect the information provided by the company about the proposal and the board's immediate procedural response. No additional updates are planned unless legally required.