InVivo Therapeutics Announces Pricing of $7.0 Million Public Offering
March 06 2020 - 9:15AM
Business Wire
InVivo Therapeutics Holdings Corp. (NVIV) today announced
the pricing of a public offering of 2,545,455 shares of its common
stock (or pre-funded warrants to purchase common stock in lieu
thereof), together with warrants to purchase up to 2,545,455 shares
of common stock at a combined effective price to the public of
$2.75 per share (or pre-funded warrant) and associated warrant. The
gross proceeds from this offering are expected to be approximately
$7.0 million, before deducting the placement agent fees and
estimated offering expenses payable by InVivo
Therapeutics.
H.C. Wainwright & Co. is acting as exclusive placement agent
for the offering.
Each warrant has an exercise price of $2.75 per share, is
exercisable immediately and expires five years from the date of
issuance. The exercise price of the warrants and the pre-funded
warrants is fixed and they do not contain any variable pricing
features or any price based anti-dilutive features. The offering is
expected to close on or about March 10, 2020, subject to
satisfaction customary closing conditions.
A registration statement on Form S-1 (File No. 333-236572)
relating to these securities has been filed with the Securities and
Exchange Commission, or the SEC, and was declared effective by the
SEC on March 6, 2020. The offering will be made only by means of a
prospectus, which is part of the effective registration statement.
When available, electronic copies of the final prospectus may be
obtained for free on the SEC’s website located
at http://www.sec.gov and may also be obtained by contacting
H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, NY 10022, or by telephone at (646)
975-6996, or by email to placements@hcwco.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is a research and
clinical-stage biomaterials and biotechnology company with a focus
on treatment of spinal cord injuries. The company was founded in
2005 with proprietary technology co-invented by Robert Langer,
Sc.D., Professor at Massachusetts Institute of Technology, and
Joseph P. Vacanti, M.D., who then was at Boston Children’s Hospital
and who now is affiliated with Massachusetts General Hospital. The
publicly traded company is headquartered in Cambridge, MA.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
within the meaning of the federal securities laws. These statements
can be identified by words such as “believe,” “anticipate,”
“intend,” “estimate,” “will,” “may,” “should,” “expect” and similar
expressions, and include statements about the anticipated
completion of the public offering. Any forward-looking statements
contained herein are based on current expectations and are subject
to a number of risks and uncertainties. Factors that could cause
actual future results to differ materially from current
expectations include, but are not limited to, satisfaction of the
closing conditions related to the proposed offering, risks and
uncertainties relating to the Company’s ability to successfully
open additional clinical sites for enrollment and to enroll
additional patients; the timing of the Institutional Review Board
process; the Company’s ability to obtain FDA approval to
commercialize its products; the Company’s ability to develop,
market and sell products based on its technology; the expected
benefits and efficacy of the Company’s products and technology in
connection with spinal cord injuries; the availability of
substantial additional funding for the Company to continue its
operations and to conduct research and development, clinical
studies and future product commercialization; and general economic
and market conditions and other factors discussed in the “Risk
Factors” section of the prospectus that forms a part of the
Company’s Registration Statement on Form S-1 relating to the
offering, which has been filed with the SEC, and the Company’s
Annual Report on Form 10-K for the year ended December 31, 2019,
and its other filings with the SEC, including the Company’s Form
10-Qs and current reports on Form 8-K. The Company does not
undertake to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200306005088/en/
Bret Shapiro, Managing Partner CORE IR Phone: (516) 222-2560
brets@coreir.com
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