Vivos Therapeutics Announces Pricing of Initial Public Offering

Strategic Insights -

Vivos Therapeutics, a medical technology company, announced the pricing of its initial public offering of 3.5 million shares of common stock at $6.00 per share, raising $21 million in gross proceeds. The offering is expected to begin trading on the Nasdaq Capital Market under the ticker symbol "VVOS" on December 11, 2020. Roth Capital Partners is acting as the lead book-running manager, while Craig-Hallum Capital Group and National Securities Corporation are co-managers. The Securities and Exchange Commission declared effective a registration statement on Form S-1 on December 10, 2020.

The company plans to use the proceeds to develop and commercialize its novel technology for treating mild-to-moderate obstructive sleep apnea. Vivos Therapeutics believes its products represent a significant improvement in treating mild-to-moderate OSA compared to other treatments such as CPAP.

Key Takeaways:

  • Vivos Therapeutics priced its initial public offering of 3.5 million shares at $6.00 per share, raising $21 million in gross proceeds.
  • The offering is expected to begin trading on the Nasdaq Capital Market under the ticker symbol "VVOS" on December 11, 2020.
  • Roth Capital Partners is the lead book-running manager, while Craig-Hallum Capital Group and National Securities Corporation are co-managers.
  • The Securities and Exchange Commission declared effective a registration statement on Form S-1 on December 10, 2020.
  • The company plans to use the proceeds to develop and commercialize its novel technology for treating mild-to-moderate obstructive sleep apnea.
  • Vivos Therapeutics believes its products represent a significant improvement in treating mild-to-moderate OSA compared to other treatments such as CPAP.
  • The company's technology is a clinically effective non-surgical, non-invasive, non-pharmaceutical, and low-cost solution for patients with sleep disordered breathing.

Statistics:

  • 3,500,000 shares of common stock were offered at $6.00 per share.
  • The aggregate gross proceeds from the offering are expected to be $21 million prior to deducting underwriting discounts, commissions, and other estimated offering expenses.
  • The company has granted underwriters a 45-day option to purchase up to an additional 525,000 shares of common stock.

Sources:

  • Vivos Therapeutics, Inc. press release, "Vivos Therapeutics Announces Pricing of Initial Public Offering," GlobeNewswire, December 10, 2020.
  • Securities and Exchange Commission website, "Registration Statement on Form S-1," www.sec.gov.