NanoVibronix Announces Closing of $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 the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules, of 4,800,000 shares of its common stock at a purchase price of $0.50 per share.

The gross proceeds from the offering were $2.4 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for general working capital purposes.

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

The shares of common stock described above were 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 was 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 were filed with the SEC and are 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 from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at [phone] or e-mail at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NanoVibronix, Inc.

NanoVibronix, Inc. (NASDAQ: NAOV) is a medical device company headquartered in Elmsford, New York, with research and development in Nesher, Israel, focused on developing medical devices utilizing its patented low intensity surface acoustic wave (SAW) technology. The proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the assistance of medical professionals. The Company’s primary products include PainShield and UroShield, which are portable devices suitable for administration at home without assistance of medical professionals. Additional information about NanoVibronix is available at: www.nanovibronix.com.