Dawson James Securities Announces the Completion of Underwritten Public Offering for NanoVibronix, Inc. for Gross Proceeds of $6,000,000
NanoVibronix Listed on NASDAQ Capital Market
BOCA RATON, FL / ACCESSWIRE / November 7, 2017 / Dawson James Securities, Inc., in conjunction with NanoVibronix, Inc. (NASDAQ: NAOV), completed an underwritten offering of 898,488 shares of common stock, 326 shares of preferred stock, and five-year warrants to purchase up to 972,609 shares of common stock exercisable at $6.95 per warrant. The offering was priced at $4.90 per share of common stock and $4900 per share of preferred stock. The Company expects to receive net proceeds from the offering of approximately $5.1 million.
As a result of the offering, the Company's common stock will become listed on the NASDAQ Capital Market and is trading under the ticker symbol "NAOV." Dawson James Securities, Inc. acted as the sole manager for the offering and utilized its Diversified Investor Offering™ structure, including both institutional and retail investors. NanoVibronix intends to use the net proceeds for working capital and general corporate purposes.
The shares described above were offered by NanoVibronix, Inc. pursuant to a registration statement previously filed with, and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A final prospectus supplement relating to the offering was filed with the SEC and is available, along with the accompanying base prospectus, on the SEC's website at http://www.sec.gov, or by contacting Dawson James: 1 N. Federal Hwy; Suite 500, Boca Raton, FL 33432 ATTN: Prospectus Department.
About NanoVibronix, Inc.
NanoVibronix Inc. is a medical device company headquartered in Elmsford, NY, with research and development in Nesher, Israel, that is focused on developing medical devices utilizing its proprietary and patented low-intensity surface acoustic wave technology. The company's technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including the disruption of biofilms and bacteria colonization, as well as providing pain relief. The devices can be administered at home, without the assistance of medical professionals. The company's products include PainShield®, UroShield™, NG-Shield™, and WoundShield™.
About Dawson James Securities
Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology, and Consumer sectors and is a full-service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland, and New Jersey (www.dawsonjames.com).
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A Of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.
Member FINRA/SIPC. For more information, please contact:
Elise Stern, Managing Director, Head of Capital Markets
[email protected]
561-208-2926
SOURCE: Dawson James Securities, Inc.
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