IceCure Medical Ltd.

IceCure Medical Ltd. is facing a class action lawsuit in Israel after the Tel Aviv District Court approved a motion to certify a class action and plaintiff classes on May 5, 2026. The lawsuit, originally filed in July 2021, alleges that a private placement conducted in March 2021 was at a significant discount and involved defects in its approval process. The company maintains that the claims are without merit and plans to file a motion for reconsideration by July 5, 2026, while also seeking a stay of proceedings for mediation.

IceCure Medical Ltd. announced it has regained compliance with the Nasdaq minimum bid price requirement. The company received written notice from Nasdaq on June 18, 2026, confirming it met the Nasdaq Listing Rule 5550(a)(2) by maintaining a closing bid price of $1.00 or greater for 10 consecutive business days from June 4 to June 17, 2026. As a result, Nasdaq considers the bid price deficiency matter closed.

IceCure Medical Ltd. announced a private placement offering to an institutional investor, expecting to raise approximately $5.5 million in gross proceeds. The offering includes pre-funded warrants and Series D and E warrants to purchase 1,833,334 ordinary shares each, priced at $2.9999 per pre-funded warrant and accompanying warrants. The company also agreed to amend existing Series B and C warrants, reducing their exercise price from $16.50 to $3.00 per share, subject to shareholder approval. Separately, the company reported a 70% growth in its U.S. active commercial install base for breast cancer cryoablation following FDA clearance.

IceCure Medical Ltd. announced a 1-for-30 reverse share split to regain compliance with the Nasdaq $1.00 minimum bid price requirement and support its broader capital markets strategy. The split, approved by shareholders and the board, will reduce the number of outstanding shares from approximately 84.2 million to 2.8 million. Trading on a split-adjusted basis is set to begin on June 4, 2026, as the company proactively addresses regulatory requirements to maintain its Nasdaq listing.

IceCure Medical announced strong clinical data for its ProSense® cryoablation technology, presented at ECIO 2026. The ICESECRET trial showed an 89.4% recurrence-free rate for kidney cancer tumors 3 cm, with 83.9% recurrence-free at a median 4.0 years. Additionally, independent studies reported no residual early-stage breast cancer at 6 and 12 months with 100% excellent cosmetic outcomes, and a 92.9% fibroadenoma volume reduction at 12 months post-treatment. The company noted growing global momentum and interest in breast cryoablation, with a dedicated course at ECIO being overbooked.

IceCure Medical Ltd. announced it has been granted an additional 180-day extension by Nasdaq to regain compliance with the minimum $1.00 bid price requirement. The new deadline for the company to meet the rule is November 9, 2026. This extension follows an initial notification in November 2025, and IceCure Medical plans to cure the deficiency, potentially through a reverse share split, with no immediate impact on its Nasdaq listing.

IceCure Medical Ltd. has entered into a Sales Agreement with A.G.P./Alliance Global Partners to offer and sell ordinary shares from time to time through an "at the market offering." The company is not obligated to sell shares but can do so based on its instructions, with the Sales Agent using commercially reasonable efforts. The net proceeds from any sales are intended for working capital and general corporate purposes, and the company will pay a 3.0% commission on gross proceeds.

IceCure Medical reported strong first-quarter 2026 financial results, with global revenue increasing 26% to $911,000, driven by substantial 84% growth in North America and 31% in U.S. sales. The company saw a 46% increase in active U.S. customer accounts for its ProSense system following FDA clearance, alongside positive clinical updates and expanding reimbursement. Despite an increased net loss of $4.27 million, the company is optimistic about accelerating adoption and market penetration, planning to expand its U.S. sales footprint.

IceCure Medical Ltd. held a Special General Meeting of Shareholders on May 11, 2026. The meeting was initially adjourned due to the absence of a required quorum but was later reconvened. At the adjourned meeting, a quorum was present, and shareholders voted to approve the agenda item as described in the Company's proxy statement.

On May 5, 2026, a court approved a motion to certify a proceeding as a class action against IceCure Medical, its officers, directors, controlling shareholder, and certain investors. The court also approved two plaintiff classes and appointed a representative plaintiff. IceCure Medical disagrees with the decision, believes the claims are without merit, and is considering its next steps, including a motion for rehearing, while intending to vigorously defend itself.