Medical technology company Vivos Therapeutics entered an agreement with an investor to raise approximately $8 million in a private placement.
The company will offer units consisting of one share of common stock and one warrant exercisable for one share common stock at a price of $1.20 per share for a period of five years and six months from closing, according to a Jan. 5 news release from Vivos. The offering is expected to close Jan. 9.
Vivos Therapeutics said it expects approximately $7.5 million in net proceeds from the offering.