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Vivos Therapeutics Announces Closing of Initial Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

HIGHLANDS RANCH
Colorado, January 29, 2021

Vivos Therapeutics, Inc. (NASDAQ: VVOS) today announced the closing of its initial public offering of 4,025,000 shares of its common stock. The offering consisted of 3,500,000 shares of its common stock, as well as an additional 525,000 shares pursuant to the exercise in full of the underwriters’ option to purchase additional shares of common stock, at a public offering price of $6.00 per share. Vivos’ common stock is listed on the Nasdaq Capital Market under the ticker symbol “VVOS.”

The aggregate gross proceeds to Vivos from the public offering was $24.15 million prior to deducting underwriting discounts, commissions and other estimated offering expenses.

Roth Capital Partners acted as sole book-running manager and representative of the underwriters for the offering. Craig-Hallum Capital Group and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM:NHLD) acted as co-managers of the offering.

The Securities and Exchange Commission declared effective a registration statement on Form S-1 relating to these securities on December 10, 2020. A final prospectus relating to this offering was filed with the Securities and Exchange Commission on December 14, 2020. The offering was made only by means of a prospectus, copies of which may be obtained by emailing Roth Capital Partners, 888 San Clemente Drive, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147, or email at [email protected]; National Securities Corporation, 200 Vesey Street, 25th Floor, New York, NY 10281, telephone: (212) 417-3634 or by sending an e-mail to: [email protected]; or Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at [email protected]. Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Vivos Therapeutics, Inc.

Vivos Therapeutics Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative treatments for patients suffering from sleep disordered breathing, including obstructive sleep apnea (OSA).  Vivos believes that its Vivos System technology represents the first clinically effective non-surgical, non-invasive, non-pharmaceutical and cost-effective solution for people with mild-to-moderate OSA. Combining technologies and protocols that alter the size, shape and position of the tissues of the upper human airway, the Vivos System opens airway space and can eliminate or significantly reduce symptoms and conditions associated with mild-to-moderate OSA.  The Vivos System has been shown to significantly lower Apnea Hypopnea Index scores and improve other conditions associated with OSA.  Sales of the Vivos System are driven by the Vivos Integrated Practice (VIP) program, which offers dentists training and value-added services in connection with their use of the Vivos System.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, particularly with respect to the public offering described herein.  Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements.  These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos’ control. Actual results (including, without limitation, the market acceptance of the new software described herein and the impact of the new software on Vivos’ results of operations) may differ materially from those expressed or implied by such forward-looking statements.  Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in Vivos’ filings with the Securities and Exchange Commission (“SEC”). Vivos’ filings can be obtained free of charge on the SEC’s website at www.sec.gov.  Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Investor Relations Contact:

Edward Loew
Head of Capital Markets, SVP
(602) 903-0095
[email protected]

 

Media Relations Contact:

Caitlin Kasunich / Jenny Robles
KCSA Strategic Communications
(212) 896-1241 / (917) 420-1444
[email protected] / [email protected]