Tivic Health Systems (TIVC) prices 20m shares at $0.25

Tivic Health® Systems, Inc. (Nasdaq: TIVC) announced the pricing of an underwritten public offering of an aggregate of 20,000,000 shares of common stock. Each share is being sold to the public at a price of $0.25 per share, for aggregate gross proceeds of approximately $5,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.

The Company intends to use the proceeds for the continued sales expansion of its first commercial product, ClearUP®, for sinus relief (including the penetration of healthcare professional networks), and clinical and regulatory costs for the expansion of existing and new product candidates. Although the Company, from time to time, evaluates potential strategic investments and acquisitions, it does not have any definitive agreements in place to make any such acquisitions at this current time.

The offering is expected to close on February 13, 2023, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

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