InvestorNewsBreaks – Vivos Therapeutics Inc. (NASDAQ: VVOS) Enters into Private Placement Agreement
January 05, 2023 at 11:30 AM EST
Vivos Therapeutics (NASDAQ: VVOS), a medical technology company focused on developing innovative treatments for patients suffering from dentofacial abnormalities and/or mild to moderate obstructive sleep apnea (OSA) and snoring in adults, has entered into a definitive agreement. According to the announcement, the agreement is with a single institutional investor and is estimated to raise $8 million through a private placement offering with a single unit price $1.20. The offering defined each unit as one share of common stock (or a prefunded warrant to purchase one share of common stock) and one warrant exercisable for one share common stock at a price of $1.20 per share for a period of five years and 6 months from closing. The announced noted that no actual units will be issued in the offering. “After the placement agent fees and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $7.5 million,” the announcement stated. “The offering is expected to close on Jan. 9, 2023, subject to customary closing conditions.”
To view the full press release, visit https://ibn.fm/4KDkx
About Vivos Therapeutics Inc.
Vivos Therapeutics is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as mild-to-moderate obstructive sleep apnea (“OSA”) as well as snoring in adults. The Vivos Method represents the first clinically effective, nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for treating mild to moderate OSA. It has proven effective in the treatment of more than 31,000 patients worldwide by more than 1,650 trained dentists. The Vivos Method includes the Vivos Complete Airway Repositioning and/or Expansion (“CARE”) appliance therapy and associated protocols that alter the size, shape and position of the soft tissues that comprise a patient’s upper airway and palate. The Vivos Method opens airway space and may significantly reduce symptoms and conditions associated with mild to moderate OSA, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes SleepImage diagnostic technology under its VivoScore program for home sleep testing in adults and children. The Vivos Integrated Practice (“VIP”) program offers dentist training and other value-added services in connection with using the Vivos Method. For more information about this company, visit www.VivosLife.com.
NOTE TO INVESTORS: The latest news and updates relating to VVOS are available in the company’s newsroom at http://ibn.fm/VVOS
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