InvestorNewsBreaks – Vivos Therapeutics Inc. (NASDAQ: VVOS) Announces Closing of $8M Private Placement
Jan 10, 2023
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 on its previously announced private placement. The placement was with a single institutional investor and resulted in approximately $8 million in gross proceeds. According to the release, the company will receive net proceeds of some $7.4 million after agent fees and estimated offering expenses are deducted. Vivos plans to use the private placement funds for general working capital and corporate purposes to support its efforts in driving revenue growth and managing expenses.
The private placement included 2 million shares of VVOS common stock, prefunded warrants to purchase up to 4,666,667 shares of company common stock and common stock purchase warrants to purchase up to 6,666,667 shares of company common stock at $1.20 per share.
To view the full press release, visit https://ibn.fm/MddfI
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”) as well as 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 31,000 patients worldwide by more than 1,650 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 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.VivosLife.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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