The split comes at a ratio of one post-split share for every 11 pre-split shares. Tyler, Texas-based NanoVibronix expects the split to go into effect at 4:05 p.m. on March 13, 2025. It plans for its common stock to continue trading on the Nasdaq market, beginning to trade on a split-adjusted basis when the market opens on March 14.
At a special meeting of stockholders last month, NanoVibronix stockholders granted the company’s board the discretion to effect the split. When it goes into effect, every 11 shares of the company’s issued and outstanding stock will convert into one issued and outstanding share of common stock with no change in the par value share.
Following the announcement of the split, shares of NAOV fell nearly 10% to about 33¢ apiece before the market opened today.
NanoVibronix develops UroShield, a portable ultrasonic therapeutic device. UroShield utilizes patented low-intensity surface acoustic wave (SAW) technology. This allows for the creation of low-frequency ultrasound waves for a variety of medical applications.
The device features a disposable clip intended for single use, plus a portable driver unit that provides power to the clip. The clip generates ultrasonic waves that create an acoustic shield on the surfaces of a catheter. This interferes with the attachment of bacteria to prevent bacterial biofilm formation and the development of infections. It also may eliminate or reduce the need for antibiotics. The device can be attached to all external urinary tract catheters providing potential relief from spasm and catheter pain.
