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Endonovo Signs Term Sheet for $5 Million to Redeem All Outstanding Convertible Notes and Prepare to Uplist Its Common Stock
Endonovo Signs Term Sheet for $5 Million to Redeem All Outstanding Convertible Notes and Prepare to Uplist Its Common Stock.
About this update from Endonovo Therapeutics, Inc.
[{"type":"text","content":"\n \n \n Endonovo Signs Term Sheet for $5 Million to Redeem All Outstanding Convertible Notes and Prepare to Uplist Its Common Stock\n \n \nEndonovo Signs Term Sheet for $5 Million to Redeem All Outstanding Convertible Notes and Prepare to Uplist Its Common Stock\n\nFinancing to be Used for the Development of a Portfolio of Treatments for Vascular Diseases and Ischemic Injuries Using Endonovo's Immunotronics Platform\n\n \n LOS ANGELES, CA--(Marketwired - Nov 28, 2016) - Endonovo Therapeutics, Inc. (OTCQB: ENDV) (\"Endonovo\" or the \"Company\"), a developer of non-invasive electroceuticals for the treatment of inflammatory conditions and diseases in vital organs, today announced that it has signed a term sheet with a single strategic healthcare investor for $5 million in Series B Preferred Stock financing to redeem all of its outstanding convertible notes, fund several pre-clinical studies targeting vascular diseases and ischemic injuries in vital organs and to prepare to uplist the Company's common stock onto a national stock exchange.\n The financing, subject to the signing of a definitive agreement, will be used to buy back approximately $2.2 million in Company convertible notes in order to preserve shareholder value, prevent additional dilution from the conversion of notes payable and to strengthen the Company's balance sheet. The strategic healthcare investor is serving as lead investor in a larger $15 million proposed financing to uplist the Company's common stock onto a national stock exchange in the first half of 2017.\n Additionally, Endonovo plans to use the proceeds from the financing to fund the development of a portfolio of treatments for vascular diseases, including critical limb ischemia and ischemic ulcers, as well as treatments targeting vascular ischemia and reperfusion injuries in vital organs, including the liver, heart, kidneys, and central nervous system using the Company's non-invasive Immunotronics™ platform. The Company is preparing to conduct the first of several pre-clinical trials in the first quarter of 2017.\n The Company's Immunotronics™ platform, which uses time variant magnetic pulses to illicit anti-inflammatory responses in cells and tissues and promotes tissue regeneration, has demonstrated significant potential in pre-clinical studies of acute inflammation and bone regeneration. ...