TYLER, Texas - NanoVibronix, Inc. (NASDAQ:NAOV), a medical device company with a market capitalization of $0.64 million and current stock price of $0.86, today announced that it is not proceeding with a $26 million registered direct offering of common stock, priced at $0.45, as previously claimed by unauthorized sources. According to InvestingPro data, the company has been experiencing significant financial challenges, with a concerning cash burn rate and substantial debt obligations. The company clarified that the information, which was disseminated by Flash Alert and FintelAlerts, was inaccurate and not issued by NanoVibronix.
The false statements about the stock offering had been circulated earlier today, prompting NanoVibronix to promptly address the situation. The company has confirmed that there is no such offering being priced or executed under Nasdaq rules, and it is taking steps to investigate the origin of the misleading information. The stock, which has fallen 86% over the past year and trades with high volatility according to InvestingPro analysis, is particularly sensitive to market misinformation.
NanoVibronix emphasized its commitment to safeguarding its stockholders and maintaining the integrity of its reputation. It is actively pursuing measures to rectify the situation and prevent any potential harm that might arise from the erroneous reports.
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