m_and_a
confidence high
sentiment positive
materiality 0.85
Vivos closes $6M+stock acquisition of Sleep Center of Nevada; secures $11M+ financing
Vivos Therapeutics, Inc.
- Acquired SCN for $6M cash + $1.5M in stock (607,287 shares) + assumption of liabilities; up to $1.5M earn-out in stock.
- Senior secured loan of $8.25M from Streeterville Capital (9% interest, 18-month maturity) netted $7.5M to Vivos.
- PIPE from New Seneca affiliate: 828K shares, pre-funded warrant for 725K shares, and 5-yr warrant for 2.33M shares at $2.23; total gross ~$3.755M.
- SCN sees ~3,000 new patients/month, annual high-seven-figure revenue; 90% test positive for OSA; Vivos expects to add diagnostic/appliance revenue over 12-18 months.
- Board-certified sleep specialists Dr. Prabhu Rachakonda and Dr. Tara Rachakonda join Vivos; continue practice management.
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