New York, NY, July 09, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities LLC, a premier investment banking firm, is thrilled to announce the successful closing of Inspire Veterinary Partners, Inc.’s public offering. The offering comprised of 6,000,000 units, each unit consisting of either one share of the Company's Class A common stock or one pre-funded warrant to purchase one share of the Company's Class A common stock and one warrant to purchase one share of the Company's Class A common stock, priced at $1.00 per unit. Inspire Veterinary Partners, Inc. (“Inspire” or the “Company”) is an owner and provider of pet health care services throughout the U.S. The shares are listed on the Nasdaq under the ticker symbol “IVP”.
The transaction has generated gross proceeds of $6.0 million for Inspire, prior to deductions for placement agent fees and other related expenses. The offering is expected to close on July 9, 2024, subject to customary closing conditions.
The capital raised through this offering will be utilized for working capital, general corporate purposes, payments to a third-party marketing agency for services related to marketing and advertising, strategic investments, and any additional future acquisitions.
The offering was conducted on a firm commitment basis, with Spartan Capital Securities LLC serving as the sole placement agent. Sichenzia Ross Ference Carmel LLP served as counsel for Spartan Capital Securities in connection with the offering, while Inspire's legal counsel was The Crone Law Group.
Kimball Carr, President and CEO of Inspire Veterinary Partners, commented, “We are excited about the completion of this offering, which will enable us to expand our network of veterinary hospitals and enhance our services. We appreciate the efforts of Spartan Capital Securities and our legal team in making this offering a success.”
John Lowry, CEO of Spartan Capital Securities LLC, expressed his satisfaction with the offering, stating, “We are delighted to have completed this offering, which will support Inspire Veterinary Partners in expanding their footprint in the pet healthcare industry. I extend my sincere appreciation to the entire Inspire team for their collaboration and dedication throughout this process.”
Spartan Capital Securities LLC extends its sincere gratitude to Inspire’s management team for their collaboration and commitment throughout the offering process.
About Spartan Capital Securities, LLC:
Spartan Capital Securities, LLC, is a leading full-service financial firm, providing expert investment advice to high-net-worth individuals and institutional clients. Renowned for its deep market knowledge, strategic risk management, and personalized service, Spartan Capital stands as a beacon of integrity and professionalism in the financial services industry. For more information, please visit www.spartancapital.com.
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