SOURCE: Endonovo Therapeutics, Inc.

Endonovo Therapeutics, Inc.

July 15, 2016 11:20 ET

Endonovo Therapeutics Announces New Round of Financing

Funding Agreement Sets Stage for New Growth Opportunities and Clinical Programs

LOS ANGELES, CA--(Marketwired - Jul 15, 2016) -  Endonovo Therapeutics, Inc. (OTCQB: ENDV) ("Endonovo" or the "Company"), a developer of bioelectronic devices and medicines, announced today that it has entered into a funding agreement with an institutional investor to provide up to an aggregate of $10 million in financing consisting of (a) $1 million in Convertible Notes (the "Notes"), of which $400,000 has been received to date, and (b) up to $9 million in financing through a Securities Purchase Agreement (the "SPA").

The Notes consist of $400,000 on the effective date of the agreement, $200,000 within 30 days of the effective date, and $400,000 upon a registration statement being declared effective by the Securities and Exchange Commission (SEC).

The Securities Purchase Agreement provides up to $9 million in aggregate financing and is subject to an S-1 Registration Statement being declared effective by the Securities and Exchange Commission (SEC) which is to be filed in shortly. The $9,000,000 Equity Line is pursuant to an Equity Line Securities Purchase Agreement ("ELSPA") that provides for a 3% origination fee and also requires the provider to purchase shares of our stock which we will put at a price equal to 75% of the lowest bid price for our stock during the 20 trading days preceding the put notice. The SPA has a 36-month term and allows the Company to drawdown, at its discretion, on the facility, based on the timing and volume provisions set forth in the agreement.

Endonovo Therapeutics will, as necessary, use the proceeds from this new round of financing to fund general corporate expenses, research and development on its bioelectronic platforms, and to complete the acquisition of Rio Grande Neurosciences.

More information regarding the Convertible Notes and the Securities Purchase Agreement and the terms and conditions thereof will be disclosed in the Current Report on Form 8-K to be filed by Endonovo today with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to acquire any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Endonovo Therapeutics

Endonovo Therapeutics, Inc. is an innovative biotechnology company developing bioelectronic devices and medicines. Endonovo's Immunotronics™ platform is a non-invasive, non-implantable bioelectronic device for treating/preventing vital organ failure through the reduction of inflammation and cell death and the promotion of regeneration. Endonovo's Cytotronics™ platform provides for a method of expanding and optimizing the therapeutic potential of stem cells using simulated microgravity and Time-Varying Electromagnetic Fields (TVEMF) for tissue engineering and cell therapies. The Company's initial concentration is on the treatment of acute and chronic inflammatory conditions of the liver using its proprietary Immunotronics™ platform.

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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.

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