Ivivi Technologies (II) To Raise $5M in Private Placement
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Ivivi Technologies, Inc. (AMEX: II) entered into a definitive purchase agreement with an institutional investor, The Pinnacle Fund, L.P., to raise $5.0 million of gross proceeds in a private placement of its common stock. In connection with the private placement, Ivivi will issue an aggregate of 1,000,000 shares of common stock at a price per share of $5.00. Net proceeds from the private placement, after the payment of expenses of approximately $125,000, are expected to be approximately $4,875,000.
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