With completion of the APA, both
Finalized Terms of
The APA transaction for the purchase of Endonovo assets and IP by
Key points of the APA include:
- Agreement to engage Adeptus, a qualified third party's asset valuation firm.
- Acquisition of ENDV IP by
SofPulse Inc. , including FDA-clearance in the human medical markets, for$50 Million , with potential additional valuation determined by Adeptus (which management believes will be between$50 million to$100 million ). - Agreement for
SofPulse Inc. to issue$50 million in freely traded stock through an S-1 registration, priced at$5.00 per share to Endonovo. - Register and distribute
SofPulse Inc. shares to ENDV's shareholders with its present intention is to distribute 80% of such shares to ENDV shareholders on a date to be determined. - Any additional valuation by Adeptus over
$50 million will be paid in cash or in a secured promissory note which will be convertible into NASDAQ listed marketable securities at the sole discretion of the ENDV. - Filing of S-1 registration statement to register the assets being purchased and to fulfill the regulatory requirements for a NASDAQ listing following the sale's completion.
SofPulse® Pulsed Electro Magnetic Field (PEMF) medical technology, utilizing its FDA-clearance for the reduction of pain and edema post-operatively, helps to position the Company as a leader in the development of innovative medical devices.
To drive revenue and future expansion,
- Development of
Veterans Association (VA) andDepartment of Defense (DoD ) post-operative pain management market for SofPulse®. - Expand distribution throughout
Taiwan , building on Taiwan FDA clearance. - Increase expansion efforts into other Asian markets such as
Singapore ,South Korea ,Thailand , andHong Kong . Grow International distribution of SofPulse® inMexico , Central andSouth America .- Re-initiate efforts to penetrate European markets with SofPulse® devices.
- Expand and develop SofPulse® devices and other new PEMF medical devices for commercialization to all US hospital, surgical and rehabilitation facilities.
Endonovo Market Outlook is Extremely Positive
The Endonovo management team is excited about the completion of the APA and looks forward to the continued growth and success of
- Exclusive rights to develop non-medical human PEMF IP and wellness markets.
- Development of new non-medical wellness products for the expanding
U.S. PEMF therapy device wellness market. - Utilization of groundbreaking multi-coil IP technology for over-the-counter PEMF product development in wellness and human markets.
- Maintenance of rights to develop comprehensive telehealth division and platform (
SofPulse, Inc. has signed an exclusive agreement to be a customer with a five-year contract). - Continued focus on mergers and acquisitions division to enhance product offerings for new technology and IP.
Endonovo, as business continues to expand, offers additional value to shareholders with the development of the non-medical Wellness market and other opportunities planned by the Company to sustain its long-term growth.
SofPulse® PEMF Benefits and Technology Featured in The Press
SofPulse®'s effective non-pharmacological PEMF pain and inflammation management solutions were highlighted in a recent article by Wallstreetpr.com, titled "Beyond the Pill: Athletes Champion PEMF and Non-Opioid Solutions for Pain Management (ENDV)." The article can be found on MarketScreener, Barchart.com, abnewswire, Benzinga, Muck Rack, The
Click to view article:
https://www.marketscreener.com/quote/stock/PACIRA-BIOSCIENCES-INC-7299436/news/Beyond-the-Pill-Athletes-Champion-PEMF-and-Non-Opioid-Solutions-for-Pain-Management-ENDV-46240551/
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Investor Relations Contact:
sbarnes@endonovo.com
www.endonovo.com
Source:
2024 GlobeNewswire, Inc., source