May 17, 2017

FaegreBD Team Advises Underwriters in Endra's IPO

Faegre Baker Daniels represented the underwriters in Endra Life Science’s initial public offering of 1.68 million units consisting of one share of common stock and a warrant to purchase one share of common stock. The units began trading on the NASDAQ Capital Market on May 9, 2017 under the symbol “NDRAU.” The shares of Endra’s common stock and warrants will trade together as units during the first 60 days following the final prospectus for the offering and, thereafter, the units will automatically separate and the common stock and warrants will trade separately, unless National Securities Corporation determines that an earlier separation date is acceptable. Once the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on the Nasdaq Capital Market under the symbols “NDRA” and “NDRAW,” respectively.

ENDRA’s mission is to bring new capabilities to ultrasound. ENDRA’s photo-acoustic solutions currently help global medical researchers screen and modify disease models with high image quality and volume scanning speed. ENDRA has a global installed base of leading institutions using the Nexus 128 system, a fully 3D photoacoustic imaging solution for imaging anatomy, physiology and labeled molecular targets. Building on its expertise in thermo-acoustics, ENDRA has developed a next generation technology platform — Thermo Acoustic Enhanced Ultrasound, or TAEUS — which is intended to enhance the capability of clinical ultrasound technology and support the diagnosis and treatment of a number of significant medical conditions that currently require the use of expensive CT or MRI imaging or where imaging is not practical using existing technology. The company is headquartered in Ann Arbor, MI.

Jon Zimmerman, a partner in FaegreBD’s capital markets practice, and Ben Stacke, led the team along with Jeffrey Sherman, Ryan Woessner and Jonny Nemani. The team was representing National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., who acted as sole book-running manager for the proposed offering. Dougherty & Company LLC acted as a qualified independent underwriter for the proposed offering.

Please see Endra Life Science’s press release for additional information on the offering.

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