VVOS - Vivos Therapeutics shares slide premarket on pricing $8M private placement at $1.20/unit
- Vivos Therapeutics ( NASDAQ: VVOS ) shares are down 22.34% premarket after the firm has entered into a definitive pact with a single institutional investor to raise ~$8M in a private placement offering at a price of $1.20/unit.
- Each unit consists of one share of common stock and one warrant exercisable for one share common stock at a price of $1.20/share for a period of five years and 6 months from closing.
- No actual units will be issued in the offering.
- After the placement agent fees and estimated offering expenses payable by the company, the company expects to receive net proceeds of ~$7.5M.
- Offering is expected to close on January 9, 2023.
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Vivos Therapeutics shares slide premarket on pricing $8M private placement at $1.20/unit