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TYLER, Texas - NanoVibronix, Inc. (NASDAQ: NAOV), a medical device company with a current market capitalization of $2.9 million and annual revenue of $2.56 million, announced the pricing of its public offering, which is expected to raise approximately $10 million before fees and expenses. According to InvestingPro analysis, the company has been quickly burning through cash while maintaining more cash than debt on its balance sheet. The offering includes around 400,000 shares of Series G Convertible Preferred Stock and Warrants to purchase up to 4,901,961 shares of common stock, each with an exercise price of $2.04 per share. The combined price for each share of Preferred Stock and accompanying Warrant is set at $25.00. This financing comes as the stock has experienced significant volatility, with a 52-week trading range of $1.92 to $16.25.
The closing of the offering is anticipated on or about May 19, 2025, subject to standard closing conditions. Dawson James Securities, Inc. is the sole bookrunning manager for the offering.
NanoVibronix intends to use the net proceeds to redeem a principal amount of its outstanding debenture and to partially repay an outstanding note, with the remainder allocated for general corporate purposes.
The offering is based on a registration statement filed on February 14, 2025, and declared effective by the U.S. Securities and Exchange Commission (SEC) on May 14, 2025. Interested parties can obtain copies of the final prospectus from the SEC’s website or directly from Dawson James Securities, Inc. when available.
NanoVibronix specializes in non-invasive and minimally invasive therapeutic devices, with a product range that includes PainShield® and UroShield® based on surface acoustic wave technology and the ENvue™ Navigation Platform for clinical procedures. The company has shown revenue growth of 12% in the last twelve months, though InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value model. For deeper insights into the company’s financial health and growth prospects, InvestingPro offers 8 additional key tips and comprehensive valuation metrics.
This press release does not constitute an offer to sell these securities and is subject to registration or qualification under the securities laws of any state or jurisdiction.
The information in this article is based on a press release statement from NanoVibronix, Inc.
In other recent news, NanoVibronix, Inc. has regained compliance with Nasdaq’s listing requirements, addressing previous concerns about its minimum bid price and stockholders’ equity. The company will remain under a one-year monitoring period to ensure continued compliance. Additionally, NanoVibronix has expanded its distribution agreement with Dukehill Healthcare Pty Ltd. to cover all Australian states, following increased demand for its UroShield device. This expansion is attributed to a study highlighting UroShield’s effectiveness in reducing catheter-associated complications. Furthermore, NanoVibronix announced a reverse stock split at a 1-for-11 ratio, which will reduce the number of outstanding shares and aims to improve the marketability of its stock. In financial developments, NanoVibronix’s subsidiary, ENvue Medical Holdings, Corp., secured a $360,000 promissory note with Alpha Capital Anstalt, with a maturity date in June 2025. The company has also seen a change in its board of directors with the resignation of Aurora Cassirer, who left for personal reasons. These developments reflect significant steps as NanoVibronix navigates its operational and financial strategies.
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