Hancock Jaffe raises $20M in registered direct offering with Perceptive Advisors

enVVeno Medical Corp

Gross proceeds of $20M from sale of 781,615 shares at $7.872/share and pre-funded warrants for 1,759,035 shares at $0.0001 exercise.
Net proceeds approximately $18.2M after placement agent fees (8% cash fee plus warrants) and expenses.
Proceeds to be used for general corporate purposes and clinical development of the VenoValve.
Company prohibited from issuing common stock or equivalents for 50 days post-closing; variable rate transactions banned for 6 months.
Closing expected on or about September 9, 2021; Ladenburg Thalmann acting as exclusive placement agent.

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