InMode Shares Are Rallying After Hours – What’s The Takeover Offer?

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Steel Partners said it is pursuing an acquisition of 51% of InMode’s outstanding shares.

  • Steel Partners has offered $18.00 per share to acquire a majority stake in InMode. 
  • The investment firm said the proposal would be fully funded from cash on hand and borrowing capacity under its existing credit facility, with no financing contingency. 
  • The firm may elect to proceed with bringing a binding proposal directly to the shareholders, in case the management and board of InMode did not engage with it.

Inmode shares rallied during extended hours of trading on Wednesday after investment firm Steel Partners presented an offer to buy a majority of the company. 

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Shares rallied more than 8% at the time of writing. 

Details Of The Offer

Steel Partners said it is pursuing an acquisition of 51% of InMode’s outstanding shares for $18.00 per share. It said the offer represented a 29% premium over the company’s closing share price on January 23, 2026, before speculation around a potential transaction was reported in the media.

“We have also recently attempted to engage in a private dialogue with InMode’s leadership around our attractive proposal, but have so far been rebuffed. Therefore, we believe it is imperative that you, the company’s true owners, are made aware of this opportunity,” it said.

Steel Partners said the proposal would be fully funded from cash on hand and borrowing capacity under its existing credit facility, with no financing contingency. 

Steel Partners may elect to proceed with bringing a binding proposal directly to the shareholders, in case the management and board of InMode does not engage with it. 

Critical Of Returns

Steel Partners said that InMode has underperformed its true potential, with ‘abysmal’ total shareholder return (TSR) over numerous periods. 

“It is concerning that, despite enjoying the enviable position of having a large amount of cash on its balance sheet and no debt, InMode has not taken steps to consistently return its outsized amount of cash on hand to shareholders in an accretive manner,” it added. 

How Did Stocktwits Users React?

Retail sentiment around INMD trended in ‘extremely bullish’ amid ‘extremely high’ message volume. 

Shares in the company have fallen nearly 12% over the past 12 months. 

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