INVO - INVO Bioscience prices $3M stock offering

2023-03-24 08:22:49 ET

• INVO Bioscience ( NASDAQ: INVO ) entered into a securities purchase agreement with a single healthcare focused institutional investor to purchase 3.68M shares in a registered direct offering.
• In a concurrent private placement, it has also agreed to issue and sell warrants to purchase up to 5.5M shares.
• The combined effective offering price for each share and warrant will be $0.815; warrants will be immediately exercisable, expire on the eight-year anniversary of the issuance date and will have an exercise price of $0.63/share.
• Proceeds and concurrent private placement are estimated to be ~$3M.
• Offering is expected to close on or about Mar.27, 2023.

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