Tivic Health Systems, Inc. Announces Pricing of Public Offering
February 08 2023 - 10:36PM
Business Wire
Tivic Health® Systems, Inc. (“Tivic”) (Nasdaq: TIVC), a
commercial-phase health technology company that develops and
commercializes bioelectronic medicine, today announced the pricing
of an underwritten public offering of an aggregate of 20,000,000
shares of common stock. Each share is being sold to the public at a
price of $0.25 per share, for aggregate gross proceeds of
approximately $5,000,000, before deducting underwriting discounts
and offering expenses. In addition, the Company has granted the
underwriters a 45-day option to purchase up to an additional
3,000,000 shares of common stock to cover over-allotments at the
public offering price, less the underwriting discount.
The Company intends to use the proceeds for the continued sales
expansion of its first commercial product, ClearUP®, for sinus
relief (including the penetration of healthcare professional
networks), and clinical and regulatory costs for the expansion of
existing and new product candidates. Although the Company, from
time to time, evaluates potential strategic investments and
acquisitions, it does not have any definitive agreements in place
to make any such acquisitions at this current time.
The offering is expected to close on February 13, 2023, subject
to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager for the
offering.
A registration statement on Form S-1 (File No. 333-268010)
relating to the shares was filed with the Securities and Exchange
Commission (“SEC”) and became effective on February 8, 2023. This
offering is being made only by means of a prospectus. Copies of the
final prospectus, when available, may be obtained from ThinkEquity,
17 State Street, 41st Floor, New York, New York 10004, by telephone
at (877) 436-3673, by email at prospectus@think-equity.com. The
final prospectus will be filed with the SEC and will be available
on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or 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
jurisdiction.
About Tivic
Tivic Health Systems, Inc. is a commercial-phase health
technology company delivering non-invasive bioelectronic treatments
that provide consumers with a choice in the treatment of
inflammation and certain other related conditions. For more
information visit https://tivichealth.com @TivicHealth.
Forward Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
"will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on Tivic Health
Systems, Inc.’s current expectations and are subject to inherent
uncertainties, risks and assumptions that are difficult to predict
and include statements regarding the expected closing date of the
offering and intended use of proceeds. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate, such as the ability to
consummate the offering and satisfy applicable closing conditions.
These and other risks and uncertainties are described more fully in
the section titled “Risk Factors” in the final prospectus related
to the public offering filed with the SEC. Forward-looking
statements contained in this announcement are made as of this date,
and Tivic Health Systems, Inc. undertakes no duty to update such
information except as required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230208006051/en/
Media Contact: Cheryl Delgreco
Cheryl.Delgreco@tivichealth.com 617-429-6749
Kayleigh Westerfield Kayleigh.Westerfield@tivichealth.com
949-632-3439
Investor Contact: Hanover International, Inc.
ir@tivichealth.com
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