Vivos Therapeutics announces exercise of warrants for $4M in gross proceeds

Vivos Therapeutics has entered into a definitive agreement for the immediate exercise of an outstanding common stock purchase warrant held by an institutional investor to purchase an aggregate of 980,393 shares of Vivos common stock for gross proceeds to the Company of approximately $4.0 million. As part of this transaction, the investor agreed to exercise the existing warrant at a revised exercise price of $4.02 per share. The resale of the shares of common stock issuable upon exercise of the warrant were registered pursuant to an effective registration statement on Form S-1. In consideration for the immediate exercise of the existing warrant for cash, Vivos has agreed to issue to the investor two new unregistered warrants, each to purchase 735,296 shares of common stock at an exercise price of $5.05 per share. The new warrants will be exercisable immediately upon issuance. Such warrants are identical, except that one warrant has a term of five years and the second warrant has a term of eighteen months. A.G.P./Alliance Global Partners is acting as the exclusive financial advisor in connection with the offering. The transaction is expected to close no later than February 20, 2024, subject to satisfaction of customary closing conditions. Vivos intends to use the net proceeds from the exercise for general corporate purposes.