Vivos closes on funding
By HME News Staff
Updated 9:29 AM CST, Wed January 11, 2023
LITTLETON, Colo. – Vivos Therapeutics, Inc., a medical technology company focused on developing treatments for patients suffering from mild-to-moderate obstructive sleep apnea, has closed its previously announced private placement offering with a single institutional investor for $8 million in gross proceeds. After the placement agent fees and estimated offering expenses, the company expects to receive net proceeds of approximately $7.4 million, which it intends to use for general working capital and corporate purposes as it seeks to both drive revenue growth and manage expenses during 2023. The private placement consisted of an aggregate of 2 million shares of company common stock, pre-funded warrants to purchase up to an aggregate of 4,666,667 shares of company common stock and common stock purchase warrants to purchase up to an aggregate of 6,666,667 shares of company common stock at $1.20 per share for five years and six months from closing. Roth Capital Partners and A.G.P./Alliance Global Partners acted as placement agents for the offering.
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