Medovex (NASDAQ:MDVX) entered into definitive agreements with investors for the purchase and sale of 2,956,043 shares of common stocks.
As quoted in the press release:
The warrants will expire five years from the date of issuance. The non-brokered transaction resulted in net proceeds of approximately $2.69 million. The Company intends to use the net proceeds for working capital and other general corporate purposes.
Jarrett Gorlin, Medovex CEO, stated, “We are pleased to announce the closing of this non-brokered financing, priced at the market. Importantly as indicated in our Form 8K filed with the SEC on Friday, as a result of the offering, the Company had stockholders’ equity of more than $2.5 million as of the date of the filing. In addition, we are anxious and looking forward to sharing preliminary early results of multiple recently completed first in human cases for the DenerveX System, near term.”