Endonovo Therapeutics, Inc. (OTCQB:ENDV) ("Endonovo" or the "Company"), a biotechnology company developing innovative regenerative therapies, today announced that it has entered into a $3 million equity purchase agreement with Kodiak Capital Group, LLC, a California-based institutional investor.
Endonovo has agreed to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) covering the shares that may be issued to Kodiak under the terms of the common stock purchase agreement. After the SEC has declared the registration statement related to the transaction effective, Endonovo will have the right at its sole discretion to sell up to $3 million of common stock under the terms set forth in the agreement. Proceeds from this transaction will be used to fund general working capital and the company’s ongoing research and development initiatives.
“We are thrilled about the opportunity to receive this capital infusion from Kodiak. It also serves as a vote of confidence for our technology as we gear toward the commercialization of our cell-free regenerative products and non-invasive, bioelectronic therapies," commented Alan Collier, Chief Executive Officer and Chairman of Endonovo Therapeutics.
Scott Lopez, member of Kodiak’s Advisory Board, said, “We are very pleased to be entering into this agreement with Endonovo. We at Kodiak have been following the progression of the Company and are excited to be making this investment. We are impressed by the Company's technology and the management's ability to prepare and execute on their objectives."
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is a publicly traded biotechnology company developing off the-shelf, cell-free regenerative products and non-invasive, bioelectronic therapies designed to extend and enhance the human life by regenerating tissues and organs that have become injured or damaged due to disease and age. The Company is developing therapies for various inflammatory, autoimmune and degenerative diseases utilizing their bioelectronic, Time-Varying Electromagnetic Fields (TVEMF) platform
About Kodiak Capital Group, LLC
Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital offering companies certainty, flexibility and consistency. Kodiak's investments are in a wide range of industries emphasizing alternative energy, consumer products, life sciences, natural resources, and social media technology. For more information, visit www.kodiakfunds.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.
