 NanoVibronix, Inc., NAOV, a medical device company that produces the PainShield surface acoustic wave SAW device, which utilizes the Companys proprietary and patented low intensity, SAW ultrasound technology, today announced that it closed a private placement transaction in which it issued and sold to existing stockholders 1.6 million Series E convertible preferred stock and 1.6 million 7-year warrants to purchase Series E convertible preferred stock at a price of 2.50 per share for gross proceeds to the Company of 3.2 million. The Series E convertible preferred shares are convertible into shares of common stock on a one-for-one basis. The Company plans to submit to stockholders for approval, within 90 days of the closing of the private placement, the issuance of the shares of common stock issuable upon conversion of the Series E preferred stock, in accordance with the rules of the Nasdaq Stock Market. 