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Endonovo Therapeutics Announces New Round of Financing
Endonovo Therapeutics Announces New Round of Financing.
About this update from Endonovo Therapeutics, Inc.
[{"type":"text","content":"\n \n \n Endonovo Therapeutics Announces New Round of Financing\n \n \nEndonovo Therapeutics Announces New Round of Financing\n\nFunding Agreement Sets Stage for New Growth Opportunities and Clinical Programs\n\n \n LOS ANGELES, CA--(Marketwired - Jul 15, 2016) -  Endonovo Therapeutics, Inc. (OTCQB: ENDV) (\"Endonovo\" or the \"Company\"), a developer of bioelectronic devices and medicines, announced today that it has entered into a funding agreement with an institutional investor to provide up to an aggregate of $10 million in financing consisting of (a) $1 million in Convertible Notes (the \"Notes\"), of which $400,000 has been received to date, and (b) up to $9 million in financing through a Securities Purchase Agreement (the \"SPA\").\n The Notes consist of $400,000 on the effective date of the agreement, $200,000 within 30 days of the effective date, and $400,000 upon a registration statement being declared effective by the Securities and Exchange Commission (SEC).\n The Securities Purchase Agreement provides up to $9 million in aggregate financing and is subject to an S-1 Registration Statement being declared effective by the Securities and Exchange Commission (SEC) which is to be filed in shortly. The $9,000,000 Equity Line is pursuant to an Equity Line Securities Purchase Agreement (\"ELSPA\") that provides for a 3% origination fee and also requires the provider to purchase shares of our stock which we will put at a price equal to 75% of the lowest bid price for our stock during the 20 trading days preceding the put notice. The SPA has a 36-month term and allows the Company to drawdown, at its discretion, on the facility, based on the timing and volume provisions set forth in the agreement.\n Endonovo Therapeutics will, as necessary, use the proceeds from this new round of financing to fund general corporate expenses, research and development on its bioelectronic platforms, and to complete the acquisition of Rio Grande Neurosciences.\n More information regarding the Convertible Notes and the Securities Purchase Agreement and the terms and conditions thereof will be disclosed in the Current Report on Form 8-K to be filed by Endonovo today with the Securities and Exchange Commission.\n This press release shall not constitute an offer to sell or the solicitation of an offer to acquire any securities, nor shall the...