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NanoVibronix Priced 4.3M Share Public Offering @$0.75/Share

NanoVibronix, Inc., (NASDAQ: NAOV) announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 4,333,334 shares of common stock of the Company, at a price to

Benzinga · 08/25/2020 09:34
NanoVibronix, Inc., (NASDAQ: NAOV) announced that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 4,333,334 shares of common stock of the Company, at a price to the public of $0.75 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about August 27, 2020, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the sole book-running manager for the offering. The Company also has granted to the underwriter a 30-day option to purchase up to an additional 650,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to NanoVibronix, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter's option to purchase additional common stock, are expected to be approximately $3.25 million. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes, including for the transition of manufacturing of NanoVibronix's products from China to the United States.