NanoVibronix announces board member resignation

NanoVibronix , Inc. (NASDAQ:NAOV), a medical device company based in Tyler, Texas with a market capitalization of $1.69 million, reported the immediate departure of Aurora Cassirer from its board of directors, effective April 1, 2025. Cassirer’s resignation was not due to any disagreement with the company on any operational, policy, or practice matters.

Cassirer, who played a significant role in the company’s governance, was a member of the audit committee, corporate governance and nominating committee, and compensation committee. The company, known for its orthopedic and surgical appliances, confirmed the departure in a Securities and Exchange Commission (SEC) filing on Thursday, April 3, 2025. According to InvestingPro data, the company’s stock has experienced significant volatility, with a 34.5% decline in the past week alone.

As per the filing, the resignation was a personal decision by Cassirer and not related to any internal conflicts. The company has not yet announced a successor or provided details on the transition plan for the vacant board seat.

NanoVibronix’s stock, traded under the ticker NAOV, continues to be listed on the Nasdaq Capital Market following this announcement. The company’s management and remaining board members have not issued any further comments regarding the resignation or its implications for the company’s strategic direction.

This development comes as part of the regular updates that publicly traded companies are required to disclose to investors and regulatory bodies. The information is based on the latest SEC filing by NanoVibronix, Inc.

In other recent news, NanoVibronix, Inc. 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 an independent study highlighting the device’s effectiveness in reducing catheter-associated complications. In a separate development, NanoVibronix announced a reverse stock split at a ratio of 1-for-11, effective March 13, 2025, as a measure to meet Nasdaq listing requirements. Shareholders had previously approved this reverse stock split at a special meeting, aiming to consolidate shares and potentially boost the stock’s market price.

Additionally, NanoVibronix has acquired ENvue Medical (TASE:BLWV) Holdings Corp., enhancing its position in the enteral feeding technology sector. This acquisition involves a stock-for-stock transaction, with ENvue’s equity exchanged for NanoVibronix’s common and Series X Non-Voting Convertible Preferred Stock. Concurrently, the company issued a senior convertible debenture worth $500,000 in a private placement, pending stockholder approval for conversion into common stock. NanoVibronix has also completed the design phase for the next generation of its PainShield and UroShield devices, focusing on reducing assembly costs and improving user interfaces.

These developments reflect NanoVibronix’s strategic efforts to expand its market presence and enhance its product offerings, while addressing shareholder interests and compliance requirements.

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