Vivos Therapeutics Announces Pricing of $24 Million Follow-On Offering
May 06 2021 - 9:41PM
Vivos Therapeutics, Inc. (Nasdaq: VVOS) (“Vivos”), a medical
technology company focused on developing and commercializing
innovative treatments for patients suffering from sleep-disordered
breathing, including mild-to-moderate obstructive sleep apnea
(OSA), today announced the pricing of its underwritten follow-on
public offering of 4,000,000 shares of its common stock at a public
offering price of $6.00 per share.
The aggregate gross proceeds to Vivos from the public offering
are expected to be $24 million prior to deducting underwriting
discounts, commissions, and other estimated offering expenses.
Vivos has granted the underwriters a 45-day option to purchase up
to an additional 600,000 shares of common stock to cover
over-allotments, if any.
Roth Capital Partners is acting as sole book-running manager and
representative of the underwriters for the offering. National
Securities Corporation and Craig-Hallum Capital Group are acting as
co-managers of the offering.
The Securities and Exchange Commission (“SEC”) declared
effective registration statements on Form S-1 relating to these
securities on May 6, 2021. A final prospectus relating to this
offering will be filed with the SEC. The offering is being made
only by means of a prospectus. Copies of the prospectus relating to
the offering may be obtained, when available, by emailing Roth
Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn:
Prospectus Department, telephone: 800-678-9147, or email at
rothecm@roth.com; National Securities Corporation, 200 Vesey
Street, 25th Floor, New York, NY 10281, telephone: (212) 417-3634
or by sending an e-mail to:
prospectusrequest@nationalsecurities.com; or Craig-Hallum Capital
Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN
55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by
email at prospectus@chlm.com. Investors may also obtain these
documents at no cost by visiting the SEC’s website at
http://www.sec.gov.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
complete information about the Company and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Vivos Therapeutics, Inc.
Vivos Therapeutics Inc. is a medical technology company focused
on developing and commercializing innovative treatments for
patients suffering from sleep disordered breathing, including mild
to moderate obstructive sleep apnea (OSA). Vivos believes that its
Vivos System technology represents the first clinically effective
non-surgical, non-invasive, non-pharmaceutical and cost-effective
alternative for people with mild-to-moderate OSA. Combining
technologies and protocols that can alter the size, shape and
position of the tissues of the upper human airway, the Vivos System
opens airway space and can significantly reduce symptoms and
conditions associated with mild-to-moderate OSA. The Vivos System
has been shown to significantly lower Apnea Hypopnea Index scores
and improve other conditions associated with OSA. Sales of the
Vivos System are driven by the independent dentists enrolled in the
Vivos Integrated Practice (VIP) program, which offers dentists
training and value-added services in connection with their use of
the Vivos System.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including with respect to the proposed offering. No assurance
can be given that the offering discussed above will be completed on
the terms described, or at all, or that the proceeds of the
offering will be used as indicated. Factors that could cause actual
results to differ materially include, but are not limited to, the
risk factors described in Vivos’ filings with the SEC. Vivos’
filings can be obtained free of charge on the SEC’s website at
www.sec.gov. Except to the extent required by law, Vivos expressly
disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in Vivos’ expectations with respect
thereto or any change in events, conditions, or circumstances on
which any statement is based.
Investor Relations Contacts:Edward LoewInvestor Relations
Officer(602) 903-0095ed@vivoslife.com
Media Contacts:Caitlin Kasunich / Jenny RoblesKCSA Strategic
Communications(212) 896-1241 / (917) 420-1444ckasunich@kcsa.com /
jrobles@kcsa.com
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