WEST HAVEN, Conn., March 9, 2015 /PRNewswire/ -- NanoViricides, Inc.
(NYSE MKT: NNVC) (the "Company"), reported that it has completed
the registration of 571,433 shares of the Company's common stock to
be issued as interest to holders of the Company's Unsecured 8%
Coupon Series B Convertible Debentures (the "Debentures").
"These investors hold significant amounts of shares of the
Company, and they have assured me that they have no intention to
sell these interest shares," commented Dr. Eugene Seymour, Chief Executive Officer of the
Company, adding that, "The registration statement filed by the
Company was for compliance with the terms of the
debentures."
The Debentures were originally issued on February 1, 2013 in the principal amount of a
total of $6,000,000 to five key
investors of the Company, including a Board Member, his charitable
foundation, a family investment office, and the Company's earliest
investors. Pursuant to the terms of the Debentures, the Company was
required to issue a certain quarterly interest on the Debentures in
the form of shares of its common stock and to register those shares
(the "Interest Shares"). The shares issued as interest represent
less than 1% of the Company's outstanding common stock. As further
required under the terms of the Debentures, the Company utilized
its current shelf registration statement to register the interest
shares. The registration statement for these interest shares was
filed with the SEC on March 6,
2015.
About NanoViricides:
NanoViricides, Inc. (www.nanoviricides.com) is a
development stage company that is creating special purpose
nanomaterials for antiviral therapy. The Company's novel
nanoviricide® class of drug candidates are designed to specifically
attack enveloped virus particles and to dismantle them. The Company
is developing drugs against a number of viral diseases including
H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, oral and
genital Herpes, viral diseases of the eye including EKC and herpes
keratitis, Hepatitis C, Rabies, Dengue fever, and Ebola virus,
among others.
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by NanoViricides, Inc. are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
Although it is not possible to predict or identify all such
factors, they may include the following: demonstration and proof of
principle in pre-clinical trials that a nanoviricide is safe and
effective; successful development of our product candidates; our
ability to seek and obtain regulatory approvals, including with
respect to the indications we are seeking; the successful
commercialization of our product candidates; and market acceptance
of our products.
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SOURCE NanoViricides, Inc.