Sanuwave Health Inc., an Eden Prairie-based wound care company, plans to join the Nasdaq stock exchange in a merger deal with a special purpose acquisition company.
Sanuwave announced last week it will merge with Houston-based SEP Acquisition Corp., a blank-check company that is traded on the Nasdaq exchange.
The combined company will have an enterprise value of $127.5 million. The deal is expected to close by the end of the year.
Sanuwave has two FDA-approved devices that use patented energy transfer technologies for wound healing and other conditions. Its lead product is the UltraMIST System.
Sanuwave was founded in 2004 and relocated from Georgia to Minnesota in 2022.
The company completed raising $12 million through a private placement in August 2022. In a news release, Sanuwave said some of those proceeds would be used to "begin the Nasdaq up-listing process."
Sanuwave is currently listed on an over-the-counter exchange.
"This is the next step in putting the company on sound footing that will allow us to focus on rapid, profitable growth and to garner an equity valuation commensurate with our performance," Sanuwave CEO Morgan Frank said in a statement.
![Gas was $2.39 at the BP gas station ay 46th Street at Lyndale in South Minneapolis. ] GLEN STUBBE * gstubbe@startribune.com Friday September 4, 2015 Pre-Labor Day gas prices in the U.S. are the lowest in 11 years, and under $2 per gallon in many states, though Minnesota's average is nearly 40 cents higher. Just one station, in Brainerd, was selling at $1.99. Checking on whether that is a promotion. Costco and Sams Clubs, usually the low price leaders, were 15 cents more. With some motorists' tho](https://arc.stimg.co/startribunemedia/4U372WPXFGGQGQHPL2CTC4SFUY.jpg?&w=252&ar=3:2&fit=crop)