Vivos Therapeutics (VVOS) has released an update.
Vivos Therapeutics, Inc. completed a significant financial maneuver by securing roughly $4.0 million through a private securities sale to an institutional investor, including common stock shares and purchase warrants. In a strategic move, the investor agreed to cash exercise their Series B Warrant, which generated an additional $4.0 million for the company. To incentivize this transaction, the company issued new inducement warrants with a five-year and an eighteen-month term, respectively. The proceeds from this transaction are slated for general corporate use, including working capital. With Alliance Global Partners advising, the company has committed to registering these new shares for resale and is bound by specific terms restricting further equity transactions for set periods.
For further insights into VVOS stock, check out TipRanks’ Stock Analysis page.
