Los Angeles, CA, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (ENDV) ("Endonovo" or the "Company"), announced today that its previously announced 1-for-1,000 reverse split of its common stock will become effective as of December 19, 2019. Beginning on December 20, 2019, the Company's common stock will trade on the OTC market on a split-adjusted basis under the trading symbol ‘ENDVD’ for a 20-day period at which time the ‘D’ will be removed and the trading symbol will revert back to ‘ENDV’.
As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced by the ratio of 1-for-1,000. The number of authorized shares of the Company's common stock remain unchanged, but the number of issued and outstanding shares will be reduced to approximately 1,005,306 shares of common stock. Registered shareholders holding their shares of common stock in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. For shareholders holding physical stock certificates, the Company's transfer agent, Equity Stock Transfer will send instructions for exchanging those certificates for new certificates representing the post-split number of shares following the effective date of the reverse stock split. Equity Stock Transfer can be reached at 212-575-5757.
Alan Collier, CEO of Endonovo Therapeutics commented, "With our sales growth and continued expansion of clients, specifically hospitals, this reverse split is a natural next step in our business plan execution. We look forward to executing on the next chapter of our progress given the attractive growth opportunity as well as the solid foundation of our SofPulse® business."
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is a commercial-stage developer of non-invasive wearable Electroceuticals™ therapeutic devices. The Company's current portfolio of commercial and clinical-stage wearable Electroceuticals™ therapeutic devices addresses wound healing, pain, post-surgical pain and edema, cardiovascular disease, chronic kidney disease, and Central Nervous System (CNS) Disorders, including traumatic brain injury (TBI), acute concussions, post- concussion syndrome and multiple sclerosis. The Company's non-invasive Electroceutical™ therapeutic device, SofPulse®, using pulsed short-wave radiofrequency at 27.12 MHz has been FDA-Cleared and CE Marked for the palliative treatment of soft tissue injuries and post-operative pain and edema, and has CMS National Coverage for the treatment of chronic wounds. The Company's current portfolio of pre-clinical stage Electroceuticals™ therapeutic devices address chronic kidney disease, liver disease non-alcoholic steatohepatitis (NASH), cardiovascular and peripheral artery disease (PAD), and ischemic stroke. The Company's non-invasive, wearable Electroceuticals™ therapeutic devices work by restoring key electrochemical processes that initiate anti-inflammatory and growth factor cascades necessary for healing to occur. www.endonovo.com
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.