enVVeno Medical Announces Private Placement Of $28M Conducted As An At-The-Market Offering Under Nasdaq Rules At A Purchase Price Per Share Of Common Stock And Warrants Of $5.806
Portfolio Pulse from Benzinga Newsdesk
enVVeno Medical Corporation (NASDAQ:NVNO) has announced a private placement of $28 million, conducted as an at-the-market offering under Nasdaq rules. The transaction was led by Perceptive Advisors, Nantahala Capital, Kingdon Capital Management, Velan Capital, L1 Capital and other institutional investors. The company could receive up to an additional $75 million from milestone-driven warrants upon the release of initial topline efficacy data from the VenoValve pivotal trial and FDA pre-market approval of the VenoValve.
October 06, 2023 | 12:58 pm
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POSITIVE IMPACT
enVVeno Medical's private placement of $28 million and potential additional capital from milestone-driven warrants could provide significant funding for the company, potentially impacting its stock positively.
The private placement provides immediate capital for enVVeno Medical, reducing financial risk and potentially leading to positive investor sentiment. The potential additional capital from milestone-driven warrants could provide further funding, contingent on the successful achievement of certain milestones. This could lead to increased investor confidence and a potential rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100