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 closed its previously announced private placement. According to the announcement, the placement will result in approximately $3.5 million net proceeds for the company after offering expenses are deducted; the company anticipates using the funds from the placement for general working capital. According to the announcement, the transaction involved Vivos issuing 980,393 shares of its common stock (or prefunded warrants in lieu thereof) to a single institutional investor. The shares were offered at a purchase price of $4.08 per share. Vivos also issued a five-year Series A warrant and an 18-month Series B warrant to the same investor. The Series A warrant is to purchase up to 980,393 shares of common stock and the Series B Warrant is for the purchase of up to 980,393 shares of common stock. Both warrants have an exercise price of $3.83 per share and are exercisable immediately. Alliance Global Partners (“AGP”) acted as the sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/IQ91R
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”) and 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 40,000 patients worldwide by more than 1,800 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.Vivos.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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