NanoVibronix to price IPO of 1,333,333 units between $5.00 and $7.00

Chardan and Maxim to sell units of one common share and one warrant

By Devika Patel

Knoxville, Tenn., May 8 - NanoVibronix, Inc. will sell 1,333,333 units in its initial public offering with a 30-day greenshoe of 200,000 additional units, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The deal was announced Feb. 6.

The company will sell units of one common share and one warrant at a price expected to fall between $5.00 and $7.00 per unit. The warrants will be exercisable at 125% of the per-unit price for five years.

Chardan Capital Markets, LLC and Maxim Group LLC are the joint bookrunners.

Proceeds will be used for marketing activities, clinical and regulatory activities, research and development, intellectual property protection, operations and general working capital.

The medical device company is based in Melville, N.Y. It expects its shares will trade on the Nasdaq under the symbols, "NVBX."

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