NanoVibronix (NSDQ:NAOV) said today that it pulled down more than $5 million from a public stock offering for its Surface Acoustic Wave antimicrobial platform.
The Elmsford, N.Y.-based company said the $4.90-per-share offering, of 1.2 million shares of common stock with warrants to purchase an additional 918,366 shares, grossed $6 million, delivering $5.1 million in net proceeds. Those are earmarked for covering NASDAQ listing expenses, expanding sales leadership and field-level sales resources, R&D and implementing its Surface Acoustic Wave platform into other applications and for general corporate purposes.
In July, NanoVibronix released interim trial results from a study of its UroShield ultrasound device designed to prevent bacteria and biofilms from forming on urinary catheters, touting significant reductions in bacterial numbers.
The post NanoVibronix pulls down $5m from public offering appeared first on MassDevice.
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