Vivos Therapeutics raises $4.64 million from warrant exercises

Vivos Therapeutics Inc. (NASDAQ: VVOS) completed the exercise of warrants for gross proceeds of approximately $4.64 million, the company announced Monday.

The medical device company focused on sleep-related breathing disorders exercised 1,982,356 warrants originally issued between January 2023 and February 2024. The warrants had exercise prices ranging from $3.83 to $5.05 per share but were exercised at a reduced price of $2.34 per share.

H.C. Wainwright & Co. served as the exclusive placement agent for the transaction.

As part of the warrant exercise agreement, Vivos issued new unregistered warrants to purchase up to 3,964,712 shares of common stock at an exercise price of $2.09 per share. Half of these new warrants will expire in five years, while the remaining warrants will expire in 24 months.

The company stated it intends to use the net proceeds for working capital and general corporate purposes.

The new warrants were offered through a private placement exempt from Securities Act registration requirements. Vivos agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issuable upon exercise of the new warrants.

Vivos develops medical devices for treating obstructive sleep apnea and other breathing disorders. The company's devices have received FDA clearance for treating various severity levels of sleep apnea in both adults and children.

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