NanoVibronix (NAOV) Announces $2.4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

NanoVibronix, Inc. (NASDAQ: NAOV) (the “Company”), a medical device company utilizing the Company's proprietary and patented low intensity surface acoustic wave (SAW) technology, today announced that it has entered into a securities purchase agreement with several institutional investors for the purchase and sale, in a registered direct offering priced at-the-market under Nasdaq rules, of 4,800,000 shares of its common stock (or pre-funded warrants in lieu of thereof) at a purchase price of $0.50 per share (or pre-funded warrant in lieu thereof). The offering is expected to close on or about December 1, 2022, subject to satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be $2.4 million. The Company intends to use the net proceeds from the offering for general working capital purposes.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The securities described above are being offered and sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (File No. 333-239965), including a base prospectus previously filed with the Securities and Exchange Commission (the “SEC”), which was declared effective on August 11, 2020. The offering is being made only by means of a prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus may also be obtained, when available, from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at [email protected].

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