Full Press Release Details
ENDRA Life Sciences Completes Private Placement of $1.1 Million of
Convertible Secured Notes and Warrants
ENDRA Executive Management Participates to Strengthen the
Company's Financial Position Ahead of Key
ANN ARBOR, Michigan July 2, 2018 - ENDRA Life Sciences Inc.
( ENDRA ) (NASDAQ: NDRA), a developer of enhanced
ultrasound technologies, has closed a private placement of
convertible secured notes and warrants for aggregate gross proceeds
of approximately $1.1 million with various accredited investors,
including ENDRA Life Sciences' executive officers. ENDRA
intends to use these proceeds for working capital and general
advance of key milestones including the commencement of human
studies, CE Mark and the commercial launch of our TAEUS liver
product, we wanted to strengthen our balance sheet and extend our
operational runway, said ENDRA's Chief Executive Officer,
Francois Michelon. We remain confident with our projected
timeline and this is fortified by the participation of our entire
management team in today's financing.
Securities Corporation, a wholly owned subsidiary of National
Holdings Corporation (NASDAQ: NHLD), acted as the exclusive
securities sold in the private placement have not been registered
under the Securities Act of 1933, as amended, or state securities
laws as of the time of issuance and may not be offered or sold in
the United States absent registration with the Securities and
Exchange Commission or an applicable exemption from such
registration requirements.
details regarding this private placement can be found in ENDRA Life
Sciences' Current Report on Form 8-K filed with the
Securities and Exchange Commission on July 2, 2018.
About ENDRA Life Sciences Inc.
Life Sciences Inc. ("ENDRA") (NASDAQ: NDRA) is a developer of
enhanced ultrasound technologies. ENDRA's Photo-Acoustic Nexus-128
system is currently used by leading global medical researchers to
screen and modify disease models with high image quality and volume
scanning speed. ENDRA is developing a next generation
Thermo-Acoustic Enhanced UltraSound (TAEUS ) system to enable
clinicians to visualize human tissue composition, function and
temperature in ways previously possible only with CT & MRI - at
a fraction of the cost, and at the point-of-care. ENDRA's first
TAEUS application will focus on the quantification of fat in the
liver, for early detection and monitoring of Non-Alcoholic Fatty
Liver Disease, which affects over 1 billion people globally,
representing an estimated $13 billion global ultrasound market
opportunity. ENDRA's goal is to bring new capabilities to
ultrasound - thereby broadening access to better healthcare. For
more information, please visit www.endrainc.com.
Forward-Looking Statements
statements in this release that are not based on historical fact
are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements, which are based
on certain assumptions and describe our future plans, strategies
and expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "could," "seek," "intend," "plan," "goal," "estimate,"
"anticipate," or other comparable terms. Examples of
forward-looking statements include, among others, statements we
make regarding expectations for revenues, cash flows and financial
performance, the anticipated results of our development efforts and
the timing for receipt of required regulatory approvals and product
launches. Forward-looking statements involve inherent risks and
uncertainties which could cause actual results to differ materially
from those in the forward-looking statements, as a result of
various factors including, among others, the following: our ability
to develop a commercially feasible technology; receipt of necessary
regulatory approvals; our ability to find and maintain development
partners; market acceptance of our technology; the amount and
nature of competition in our industry; our ability to protect our
intellectual property; and the other risks and uncertainties
described in ENDRA's filings with the Securities and Exchange
Commission. The forward-looking statements made in this release
speak only as of the date of this release, and ENDRA assumes no
obligation to update any such forward-looking statements to reflect
actual results or changes in expectations, except as otherwise
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