NanoVibronix Ltd., a developer of portable ultrasonic treatments for wounds and pain relief, has filed a prospectus with the US Securities and Exchange Commission (SEC) to raise $10 million at a company value of $17-24 million, after money, on Nasdaq. The company has begun its road show.
The company plans to issue 1,333,333 units of one share and one warrant at $5-7 per unit
The filing comes just as the primary market on Wall Street for life sciences companies has temporarily closed. There have been no big IPOs in the sector in the past couple of weeks, although many companies have filed prospectuses and are preparing for the starting line, in hopes that the situation will change.
Among Israeli companies, Mapi-Pharma Ltd., has postponed its IPO, originally scheduled for last Thursday. BioBlast Pharma Ltd., run by CEO Dr. Dalia Megiddo and CFO Udi Gilboa, the controlling shareholders in Alcobra Pharmaceuticals Ltd. (Nasdaq: ADHD), is preparing its road show, but the date of its IPO is still uncertain.
However, a small IPO, like NanoVibronix's, might slip through the cracks of the closed IPO window.
Published by Globes [online], Israel business news - www.globes-online.com - on May 8, 2014
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