Vivos Therapeutics Announces Completion of $3.5 Million Registered Direct Offering

On December 22, 2024, Vivos Therapeutics Inc. (NASDAQ: VVOS) disclosed its entry into a securities purchase agreement with institutional investors for a registered direct offering. The offering involved the sale of 709,220 shares of the company’s common stock, alongside warrants to purchase up to the same number of shares. The shares were priced at $4.935 each, with the additional purchase warrants having an exercise price of $4.81 per share.

To facilitate this offering, the company will file a registration statement with the Securities and Exchange Commission (SEC) to cover the resale of the Purchase Warrant Shares within 30 days. H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering. The gross proceeds from the offering are anticipated to be approximately $3.5 million, before deducting fees and other expenses.

Vivos Therapeutics intends to utilize the net proceeds from the offering for working capital and general corporate purposes. The company’s common stock is registered on The NASDAQ Stock Market LLC under the symbol VVOS. The Offering is expected to close on December 24, 2024, pending customary closing conditions.

The financial arrangements include various fees to be paid by the company to the placement agent, including a cash fee, a management fee, and reimbursement for certain expenses and legal fees. Additionally, the company will issue Placement Agent Warrants allowing the purchase of up to 49,645 shares of Common Stock.

The agreement also imposes restrictions on the issuance and sale of shares for a specified period and prohibits Variable Rate Transactions for a year following the closing of the Offering. The company highlights that the descriptions of the Purchase Agreement and associated warrants are available in the full texts attached to the filing.

Furthermore, the company issued a press release on December 23, 2024, to announce the pricing of the Offering. The release offers insight into the structure of the Offering, H.C. Wainwright & Co.’s involvement, and the intended purposes of the raised funds.

Investors and stakeholders are advised that forward-looking statements in the Offering press release, SEC filing, and related management discussions point to potential risks and uncertainties. Vivos Therapeutics has emphasized factors contributing to risks such as revenue strategies, regulatory concerns, and market conditions in its disclosures.

For further details and information on Vivos Therapeutics, interested parties can refer to the official website of the company.

This news article was based on the 8-K SEC Filing dated December 23, 2024, and the attached Exhibit 99.1.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vivos Therapeutics’s 8K filing here.

Vivos Therapeutics Company Profile

Vivos Therapeutics, Inc, a medical technology company, develops and commercializes treatment modalities for patients with dentofacial abnormalities, obstructive sleep apnea (OSA), and snoring in adults. It offers The Vivos Method, a non-invasive, non-surgical, non-pharmaceutical, multi-disciplinary treatment modality for the treatment of dentofacial abnormalities, OSA, and snoring.