InMode Urges InMode Board To Resume Buyback, Replace CEO

(RTTNews) - Doma Perpetual Capital Management LLC, in a letter on Thursday urged the Board of InMode Ltd. (INMD) to continue its stock repurchase program and to replace its CEO Moshe Mizrahy.

Doma is a significant stockholder of InMode.

The communication to the Board raised concerns about InMode's capital allocation strategy and depressed valuation, with particular attention to the negative public statements and actions of CEO. The letter noted that InMode's stock price has been declining.

Doma said, the Board should immediately resume the Share Repurchase Program and "substantial additional capital return" announced in February.