ENDRA Life Sciences Inc. Prices Initial Public Offering

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May 09, 2017, 08:00 ET

ANN ARBOR, Mich., May 9, 2017 /PRNewswire/ -- ENDRA Life Sciences Inc. ("ENDRA" or the "Company") (NASDAQ: NDRAU), a developer of photo- and thermo-acoustic technology to bring new capabilities to existing ultrasound systems, today announced the pricing of its initial public offering of 1,680,000 units, each consisting of one share of common stock and a warrant to purchase one share of common stock, at an offering price of $5.00 per unit. The common stock and warrants will trade together as units during the first 60 days following the date of the prospectus pursuant to which the offering is being made (unless the underwriters' representative determines that an earlier date is acceptable) and, thereafter, the units will automatically separate and the common stock and warrants will trade separately. Following separation, each warrant will have an exercise price of $6.25 per share of common stock and will expire on the fifth anniversary of the original issuance date. The units are expected to begin trading on the Nasdaq Capital Market on May 9, 2017 under the symbol "NDRAU." Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on the Nasdaq Capital Market under the symbols "NDRA" and "NDRAW," respectively.

The Company has also granted the underwriters a 45-day option to purchase up to an additional 252,000 units to cover over-allotments, if any, provided that in no event may exercise of this option occur after separation of the units. ENDRA expects to use the net proceeds from the offering to fund the development and regulatory approval and to prepare for the commercialization of the Company's Non-Alcoholic Fatty Liver Disease Thermo Acoustic Enhanced Ultrasound application in the European Union and for working capital and other general corporate purposes.

The offering is expected to close on or about May 12, 2017, subject to the satisfaction of customary closing conditions.

National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ: NHLD), is acting as sole book-running manager for the proposed offering. Dougherty & Company LLC is acting as a qualified independent underwriter for the proposed offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") and is effective. A final prospectus relating to the offering will be filed with the SEC. Copies of the final prospectus relating to this offering may be obtained, when available, from: National Securities Corporation, Attention: Marguerite Rogers, 410 Park Avenue, 14th Floor, New York, New York 10022, or by email at [email protected]. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About ENDRA Life Sciences Inc.
ENDRA's mission is to bring new capabilities to ultrasound. ENDRA's photo-acoustic solutions currently help global medical researchers screen and modify disease models with high image quality and volume scanning speed. ENDRA has a global installed base of leading institutions using the Nexus 128 system, a fully 3D photoacoustic imaging solution for imaging anatomy, physiology and labeled molecular targets.

Building on its expertise in thermo-acoustics, ENDRA has developed a next generation technology platform — Thermo Acoustic Enhanced Ultrasound, or TAEUS — which is intended to enhance the capability of clinical ultrasound technology and support the diagnosis and treatment of a number of significant medical conditions that currently require the use of expensive CT or MRI imaging or where imaging is not practical using existing technology.

ENDRA's thermo-acoustic technology is being developed to enable clinicians to use their existing ultrasound equipment to clearly visualize tissue function, composition, and monitor a variety of therapeutic interventions – at the point of care. This directly aligns with current healthcare trends to improve patient access, clinical effectiveness, safety and cost.
For more information, please visit www.endrainc.com.

Forward-Looking Statements
All statements in this release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. 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 those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed Registration Statement on Form S-1, which can be found on the SEC's website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Company Contact

David Wells

Chief Financial Officer

(734) 997-0464

[email protected]

Media & Investor Relations Contact

Chris Tyson

Managing Director

MZ North America

(949) 491-8235

[email protected]

www.mzgroup.us