InMode Shares Jump After Steel Partners Tables Higher Takeover Proposal (INMD)
InMode Ltd (INMD) shares rose about 4% premarket after Steel Partners Holdings proposed to buy the medical aesthetics company for $16.75 per share in cash, a 20% premium to $13.95 and above a prior $16.20 bid by CEO Moshe Mizrahy. Steel Partners urged an independent committee, questioned governance and possible MNPI around share purchases, and cited 2026 adj. EBITDA of $65M vs guidance $73M-$78M.
How this was made
The 30-second read
Why it matters
The disclosed offer price ($16.75) and premium framing, plus allegations about timing of share purchases and EBITDA valuation versus guidance, can shift deal probability and expected offer size.
Market read
A higher competing bid and a board-response deadline create a near-term catalyst window for INMD.
What to watch
Steel Partners is a major shareholder, but the article does not confirm financing certainty, regulatory path, or whether the board will accept the structure or remove the CEO.
Background
Steel Partners, a major InMode shareholder, submitted a competing acquisition proposal and urged governance changes via a letter to the board.
Ticker impact
InMode shares rose pre-market after Steel Partners proposed a $16.75-per-share cash takeover, citing a 20% premium.
Near-term upside bias with elevated volatility as the board responds and investors reprice deal odds.
The article discloses a fresh bid price ($16.75), a competing prior bid ($16.20), and specific board demands (independent committee, CEO removal request) that can drive immediate repricing and process-driven headlines.
Market effects
Could increase deal activity expectations in medical aesthetics by highlighting shareholder-led M&A pressure and governance scrutiny.
Limited, as the catalyst is company-specific and US-listed.
Low, unless the buyer consortium structure or manufacturing/distribution partners trigger broader cross-border scrutiny.
Counterpoint
The bid may not clear due to governance concerns and valuation disputes, so the stock could retrace if the board rejects or negotiates down.
Key entities
- public_companyInMode Ltd
NASDAQ-listed medical aesthetics company receiving a competing takeover proposal.
- public_companySteel Partners Holdings L.P.
Major InMode shareholder proposing to acquire the company for $16.75 per share in cash.
- personMoshe Mizrahy
InMode CEO whose actions and governance are challenged in the shareholder letter.


