High-profile case10/19/2026

Steel Partners Gave InMode 11 Days to Discuss the Acquisition Offer

InMode shareholder Steel Partners, which holds 3.18% of its shares, demanded serious consideration of the acquisition offer at a price of $16.75 per share by the end of October. Otherwise, the investor is threatening to take legal action, although no judicial ruling has yet been issued in the dispute.

Key facts

•Steel Partners’ holding in InMode: 3.18%
•Proposed price: $16.75 per share
•Time allotted for discussion: 11 days, until the end of October
•Court: Haifa District Court
•The case number and the court’s ruling are not specified

Terms of the Offer

Steel Partners estimated that its terms reflect a 19% premium over InMode’s current share price and announced that the offer would remain valid for an additional 11 days. At the time of publication, InMode was valued by the market at $814 million. Meetings between the parties were held in Israel, and another round of talks was scheduled to take place in New York.

The Dispute Over Access to Information

According to Steel Partners’ account, InMode demanded that the lawsuit filed against it be withdrawn as a condition for continuing the negotiations and obtaining access to the data room. The fund agreed to suspend the proceeding, but not to relinquish it, and claims that it did not receive documents needed to conduct due diligence on the transaction. Sources close to InMode confirm the demand to withdraw the lawsuit but claim that the fund itself did not sign a confidentiality agreement.

Legal Claims

Steel Partners has already filed a lawsuit against InMode’s board of directors and management in the Haifa District Court. The fund believes that conditioning access to corporate information on the termination of the legal proceeding constitutes a serious breach of the directors’ fiduciary duties toward the shareholders. The case number, the substance of the remedies sought, and any court decision are not specified in the source.

The Alternative Offer Expired

Previously, a group of investors led by InMode founder and CEO Moshe Mizrahy offered $16.2 per share. The offer expired about a month before publication, leaving the Steel Partners offer as the only remaining open option. The court did not grant the fund’s request to suspend consideration of Mizrahy’s offer, but the board of directors did not actually review it.

What this means for you

For InMode shareholders, the dispute means that a possible sale of the company depends not only on the price, but also on the buyer’s access to documents and the conditions for terminating the legal proceeding. As long as the board of directors has not accepted the offer and the court has not issued a ruling specified in the source, payment to shareholders at a price of $16.75 is not guaranteed.

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