NanoVibronix Inc., a medical technology company focusing on therapeutic devices, has announced a private placement agreement valuing up to $50 million. The deal includes an upfront $8 million in gross proceeds through the sale of 8,889 shares of Series H Convertible Preferred Stock, with the potential to raise an additional $40 million. The Preferred Stock, convertible into common stock at a price of $1.01 per share, aligns with the closing price on Nasdaq prior to the agreement. The initial closing is anticipated around July 21, 2025, pending customary conditions. The agreement also grants the investor the right to acquire up to $44 million in additional Preferred Stock over 36 months, with terms similar to the initial shares but at a slightly reduced conversion price based on market conditions. Palladium Capital Group, LLC serves as the exclusive placement agent for this transaction.
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