Steel Partners Holdings L.P. Issues Open Letter to All InMode Stakeholders and Sets October 30, 2026 Expiration for Its $16.75 Per Share All-Cash Offer
Steel Partners issued an open letter to InMode stakeholders setting an October 30, 2026 expiration for its outstanding $16.75 per share all-cash offer to acquire up to 100% of InMode, first proposed on July 9, 2026. Steel accuses the InMode board of breaching fiduciary duties by conditioning diligence access on dismissal of Steel's claims against directors individually, and says the board lacks independence given CEO Moshe Mizrahy's and co-founder Michael Kreindel's influence; the CEO-led competing proposal expired September 16.
Key figures
- Deal Value Usd
- $16.75 per share all-cash offer for up to 100% of outstanding shares
- Q2 2026 revenue
- $95.6 million
- Q2 gross margin
- 75%, down from 80%
- Offer expiration
- October 30, 2026
- Initial proposal date
- July 9, 2026
- Offer price per share
- 16.75
- Guidance cuts since feb 2024
- 6
- Q2 non gaap operating margin
- 17%, down from 28%
- Fy26 non gaap operating income guidance
- $68 million to $73 million
AI analysis
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