NanoViricides Issued Registered Shares as Interest to Certain Debenture Holders
WEST HAVEN, CONNECTICUT -- Monday, March 9, 2015 -- 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 annual 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.
(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
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 preclinical 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.
FDA refers to US Food and Drug Administration. EMA refers to the European Union’s office of European Medical Agency.
Amanda Schuon, 310-550-7200