Tivic Health Systems, Inc. Announces Closing of Public Offering
February 13 2023 - 04:30PM
Business Wire
Tivic Health® Systems, Inc. (“Tivic”) (Nasdaq: TIVC) (“Tivic” or
the “Company), a commercial-phase health technology company that
develops and commercializes bioelectronic medicine, today announced
the closing of its previously announced underwritten public
offering of an aggregate of 20,000,000 shares of common stock at a
public offering 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.
ThinkEquity acted 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 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 was filed with the SEC on February 10, 2023, and is
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 intended use of proceeds from
the offering. Further, certain forward-looking statements are based
on assumptions as to future events that may not prove to be
accurate. 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/20230213005616/en/
Media Contacts: Cheryl Delgreco
Cheryl.Delgreco@tivichealth.com 617-429-6749
Investor Contact: Hanover International, Inc.
ir@tivichealth.com
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