Vivani Medical enters into $75M ATM equity offering agreement with Jefferies LLC

Vivani Medical, Inc.

Up to $75M of common stock may be sold at-the-market through Jefferies as sales agent.
Company pays Jefferies commission of up to 3% of gross proceeds; no obligation to sell.
ATM facility provides financing flexibility; proceeds intended for general corporate purposes.
Shares offered under a new S-3 shelf registration statement filed on April 22, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vivani Medical, Inc. entered into Open Market Sale Agreement with Jefferies LLC valued at up to $75.0 million (effective 2024-04-22).

Action: entry
Agreement: atm program
Counterparty: Jefferies LLC
Value: up to $75.0 million
Effective: 2024-04-22

Exact text from the filing

On April 22, 2024, Vivani Medical, Inc. (the “Company”) entered into an Open Market Sale Agreement SM (the “Agreement”) with Jefferies LLC (“Jefferies”), under which the Company may offer and sell, from time to time at its sole discretion, shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $75.0 million through Jefferies as its sales agent.

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Vivani Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001753926-24-000816

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