Mergers & Acquisitions ·
Vivos completes acquisition of 11% stake in SOD Sciences and 50% test interest for $12M preferred stock
VVOSVivos Therapeutics, Inc.
Vivos Therapeutics closed its acquisition of an 11% equity interest in SOD Sciences and a 50% co-ownership interest in SOD’s pseudohypoxia early-warning test. In exchange, Vivos issued 12,000 shares of Series C Convertible Preferred Stock with an aggregate stated value of $12 million to SOD. The transaction is expected to increase Vivos' stockholders' equity by more than $10 million, potentially helping the company regain compliance with Nasdaq’s minimum equity listing requirement. Vivos will share revenue and costs related to the test equally with SOD and plans to negotiate joint marketing agreements to access new patient channels.