IceCure Medical (ICCM) Registration Filing summary

Company overview and business model

• Commercial-stage medical device company specializing in cryoablation systems using liquid nitrogen for minimally invasive tumor treatment across multiple indications, including breast, lung, kidney, and bone tumors.

• Lead product is the ProSense system, with FDA marketing authorization for several indications and pending De Novo clearance for early-stage breast cancer.

• Operations are based in Israel, with global subsidiaries and a focus on expanding regulatory clearances and market reach.

Financial performance and metrics

• Generated $2.4 million in revenue for the nine months ended September 30, 2024.

• Held approximately $10.67 million in cash and cash equivalents as of September 30, 2024.

• As of June 30, 2024, had $9.65 million in cash and $807,000 in short-term deposits, with shareholders' equity of $10.61 million (actual) and $27.07 million (as adjusted for the offering).

Use of proceeds and capital allocation

• Expects to receive approximately $16.5 million in net proceeds from the offering, assuming full subscription at $0.81 per share.

• Proceeds will be used for business development, marketing, research and development, and general corporate purposes.

• Management retains broad discretion over the use of funds, with actual expenditures dependent on business progress and market conditions.