Policy & Regulation
NanoVibronix Launches USD 2.4m Registered Direct Offering
6 December 2022 - - US-based medical device company NanoVibronix, Inc. (NASDAQ: NAOV) has entered into a securities purchase agreement with several institutional investors for the purchase and sale, in a registered direct offering priced at-the-market under NASDAQ rules, of 4.8m shares of its common stock (or pre-funded warrants in lieu of thereof) at a purchase price of USD 0.50 per share (or pre-funded warrant in lieu thereof), the company said.

The offering is expected to close on or about December 1, 2022, subject to satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be USD 2.4m. The company intends to use the net proceeds from the offering for general working capital purposes.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

NanoVibronix, Inc. (NASDAQ: NAOV) 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 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 and UroShield, which are portable devices suitable for administration at home without assistance of medical professionals.