Financing ·
Vivos Therapeutics entered into twelve exchange agreements with Streeterville Capital to partition $2,861,270 of its…
VVOSVivos Therapeutics, Inc.
Vivos Therapeutics entered into twelve exchange agreements with Streeterville Capital to partition $2,861,270 of its Secured Promissory Note into separate notes. In exchange for the surrender and cancellation of these Partitioned Notes, Vivos agreed to issue up to 11,445,080 shares of common stock at an average price of $0.25 per share. Issuance is subject to a 4.9% beneficial ownership limitation and a sell-down condition requiring Streeterville to dispose of prior issuances before receiving new ones. Following the transaction, the outstanding note balance was reduced to $3.7 million, and total common shares outstanding will increase from approximately 22.2 million to 33.6 million. Vivos Therapeutics develops medical devices for obstructive sleep apnea.