other material
confidence high
sentiment neutral
materiality 0.70
Vivos Therapeutics raises ~$2.1M in PIPE of convertible preferred and warrants
Vivos Therapeutics, Inc.
- Sold 3,608,496 units at $0.582/unit; each unit: one Series A Convertible Preferred (stated value $0.456) and one warrant (exercise $0.456, 5-year term).
- Gross proceeds ~$2.1M; $1M cash, $1M from conversion of bridge note; net proceeds for working capital.
- CEO R. Kirk Huntsman indirectly invested $50k via V-Co 4, an affiliate holding >9.99% of common stock.
- Warrants immediately exercisable; beneficial ownership limits: 19.99% for V-Co 4, 9.99% (or 4.99%) for Bigger Capital.
- Company must file resale registration statement within 45 days; Rights contingent on SEC effectiveness.