NanoVibronix prices $6m offering

This article was originally published here


NanoVibronix (NSDQ:NVBXU) said this week it priced a $6 million public offering, with funds slated to cover expenses related to its listing on the NASDAQ Capital Market and to expand its sales teams.

The Elmsford, N.Y.-based company is looking to float 1.2 million shares of its common stock with warrants to purchase an additional 918,366 shares of stock. Shares are priced at $4.90 with each share sold with one five-year warrant to purchase an additional 0.75 shares of common stock at an exercise price of $6.95 per share.

NanoVibronix said it expects to bring in net proceeds of $5.1 million during the round.

Proceeds are slated to cover NASDAQ listing expenses, to help expand sales leadership and field level sales resources, R&D and to implement its Surface Acoustic Wave platform into other applications and for general corporate purposes,
according in a press release.

In July, NanoVibronix released interim trial results from a study of its UroShield ultrasound device designed to prevent bacteria and biofilms from forming on urinary catheters, touting significant reductions in bacterial numbers.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply