TSX runs higher on rate cut expectations
TYLER, Texas - NanoVibronix, Inc. (NASDAQ: NAOV), a medical device company with a market capitalization of $2.22 million and current stock price of $0.36, has announced a reverse stock split of its common stock at a ratio of 1-for-11, effective after the market closes on Thursday, March 13, 2025. The company has shown significant revenue growth of 228% in the last twelve months, though according to InvestingPro analysis, the stock remains highly volatile with a beta of 1.81. The company’s common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market under the existing ticker symbol NAOV when markets open on Friday, March 14, 2025.
The reverse stock split was authorized by the company’s stockholders at a special meeting on February 24, 2025, granting the Board of Directors the discretion to implement the split. Following the reverse stock split, every eleven shares of issued and outstanding common stock will be converted into one share of common stock, maintaining the same par value per share.
This corporate action will reduce the number of outstanding shares from approximately 8.7 million to about 792,394 shares. Proportional adjustments will be made to the number of shares issuable upon the exercise or conversion of NanoVibronix’s equity awards, warrants, and other convertible securities, along with the applicable exercise or conversion prices.
Shareholders who own stock through brokerage accounts will have their holdings automatically adjusted. Those holding physical stock certificates are not required to exchange them for new ones, although they have the option to do so. The reverse stock split is intended to affect all stockholders uniformly and will not change any stockholder’s percentage interest in the company’s equity, except for adjustments due to rounding of fractional shares, which will be rounded up to the nearest whole number.
NanoVibronix, headquartered in Tyler, Texas, with R&D in Nesher, Israel, focuses on non-invasive therapeutic devices using its patented low-intensity surface acoustic wave technology. The technology is used in products like PainShield® and UroShield®, intended for pain relief and the disruption of biofilms and bacterial colonization. These devices are designed for use at home or in care settings without the need for continuous medical supervision.
The reverse stock split is part of NanoVibronix’s efforts to comply with Nasdaq listing requirements and improve the marketability of its stock. Based on InvestingPro Fair Value analysis, the stock appears to be undervalued despite its challenges, including negative EBITDA of $2.55 million in the last twelve months. The company cautions that this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially from those projected. The company’s next earnings report is scheduled for April 9, 2025, which could provide further clarity on its financial trajectory. This news is based on a press release statement from NanoVibronix, Inc.
In other recent news, NanoVibronix, Inc. has announced several significant developments. The company received shareholder approval for a reverse stock split, which aims to consolidate shares at a ratio between 1-for-2 and 1-for-11, pending a decision by the Board. This move is expected to impact the stock’s market price. Additionally, NanoVibronix has completed the acquisition of ENvue Medical Holdings Corp., a provider of enteral feeding solutions, through a stock-for-stock transaction. This acquisition could result in ENvue’s holders owning a substantial portion of NanoVibronix’s common stock, subject to stockholder approval.
In another development, NanoVibronix recently completed the design phase for the next generation of its PainShield® and UroShield® devices, with improvements aimed at reducing costs and enhancing usability. The company is now moving into the validation and testing phase for these devices. Furthermore, NanoVibronix entered into a securities exchange agreement with an institutional investor, issuing new shares and warrants in exchange for an outstanding warrant. This transaction aligns with SEC regulations and involves the issuance of 456,478 shares of common stock and warrants for additional shares.
These recent activities reflect NanoVibronix’s ongoing efforts to strengthen its market position and expand its product offerings. The company continues to navigate regulatory and market challenges as it implements these strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.