NanoVibronix falls on direct stock deal

ENvue Medical

29/11/2022 13:52

** NanoVibronix Inc's  NAOV.O  shares down 16% premarket
after medical device maker raises equity
    ** Co says it sold 4.8 mln shares directly to several
institutional investors in offering priced at 50 cents/sh for
$2.4 mln raise  urn:newsml:reuters.com:*:nBwcgNK5ga
    ** NAOV shares soared 144.3% to close at 63 cents/sh on Mon
after co announced late afternoon it received US FDA 510(k)
premarket clearance for PainShield Plus, its ultrasound pain
device therapy
    ** Process started of making recommended modifications to
the device to comply with the FDA standard, co said
    ** Approval "opens the door" to submit a 510(k) application
for over-the-counter product, PainShield Relief, in the near
term, it said
    ** Co has 28 mln shares outstanding and 27.8 mln shares of
public float, per Refinitiv
    ** About 10 mln NAOV shares have exchanged hands before the
bell vs stock's 25-DMA volume of ~1.3 mln, per Refinitiv
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))