IBN, a multifaceted financial news and publishing company for private and public entities, has announced, through its biotech and biomed brand BioMedWire, the recent private placement offering for NanoVibronix (NASDAQ: NAOV), a medical device company that produces the UroShield(R), PainShield(R) and WoundShield(R) Surface Acoustic Wave (“SAW”) Portable Ultrasonic Therapeutic Devices. NanoVibronix in late August entered into definitive agreements for the purchase and sale of an aggregate of 2,906,977 shares of its common stock (or common stock equivalents in lieu thereof), series A-1 warrants to purchase up to 2,906,977 shares of common stock and series A-2 warrants to purchase up to 2,906,977 shares of common stock, at a purchase price of $1.72 per share of common stock (or common stock equivalent in lieu thereof) and accompanying warrants, in a private placement priced at-the-market under Nasdaq rules. NanoVibronix intends to use net proceeds (from the expected $5 million in gross proceeds from the offering) for general corporate purposes, including funding of its development programs, commercial planning and sales and marketing expenses, potential strategic acquisitions, general and administrative expenses and working capital.
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To view the full press release, visit https://ibn.fm/COhB4
About NanoVibronix Inc.
NanoVibronix is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, focused on developing medical devices utilizing its patented low intensity surface acoustic wave (“SAW”) technology. The proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the assistance of medical professionals. The company’s primary products include PainShield(R) and UroShield(R), which are portable devices suitable for administration at home without assistance of medical professionals. For more information about the company, visit www.NanoVibronix.com.
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