SNWV Raises Non-Dilutive Financing - Analyst Blog


SNWV Raises Non-Dilutive Financing

By Brian Marckx, CFA

Yesterday (12/3/2012) SANUWAVE ( SNWV ) announced that they entered into a financing agreement with one of the company's largest shareholders whereby he will purchase $1MM worth of common stock at $0.25/share over a period of about 18 months. 

Terms of the subscription agreement include the sale of $50k (200k) worth of shares by 1/31/2013, $50k by 2/15/2013 and the remaining $900k (3.6MM shares) by 5/27/2014.  If at any time after 2/15/2013 SNWV's cash balance falls below $100k the company has the option of requiring the subscriber to purchase $100k (400k) worth of shares of the balance of the total financing amount. 

As we noted in our most recent investor note , SNWV has managed their cash well and kept burn to a minimum.  As of the end of Q3 (9/30/2012) SNWV had $361k in cash and equivalents.  Per the Q3 earnings release, SNWV expects to have a larger capital raise in place by the end of Q1 2013 - which we expect remains the current game plan.  This should provide even greater breathing room and help accelerate the supplemental dermaPACE clinical trial.        

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: SNWV

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