Vivos to sell 709,220 shares at $4.935 in registered direct offering

Vivos Therapeutics (VVOS) has entered into definitive agreements for the purchase and sale of an aggregate of 709,220 shares of its common stock at a purchase price of $4.935 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to 709,220 shares of common stock. The short-term warrants will have an exercise price of $4.81 per share, will be exercisable upon issuance and expire two years following the date of issuance. The closing of the offering is expected to occur on or about December 24, 2024, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $3.5M, before deducting the placement agent’s fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the short-term warrants, if fully exercised on a cash basis, will be approximately $3.4M. No assurance can be given that any of the short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.