InVivo Therapeutics Announces Pricing of Public Offering of Common Stock
November 21 2019 - 8:00AM
Business Wire
InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) today
announced the pricing of a public offering of 7,000,000 shares of
its common stock, par value $0.00001 per share, at a price to the
public of $0.12 per share. The gross proceeds from this offering
are expected to be $840,000, before deducting the fees and
estimated offering expenses payable by InVivo Therapeutics. The
offering is expected to close on or about November 22, 2019,
subject to customary closing conditions.
H.C. Wainwright & Co. is acting as exclusive placement agent
in connection with the offering.
A registration statement on Form S-3 (File No. 333-234353)
relating to the shares of common stock offered in the offering was
filed with the Securities and Exchange Commission, or the SEC, and
was declared effective by the SEC on November 14, 2019. The
offering will be made only by means of a prospectus supplement and
accompanying base prospectus, which are part of the effective
registration statement. A final prospectus supplement related to
the offering will be filed with the SEC and will be available on
the SEC’s website at www.sec.gov. When available, electronic copies
of the final prospectus supplement and accompanying base prospectus
may also be obtained by contacting H.C. Wainwright & Co., LLC,
430 Park Avenue, 3rd Floor, New York, New York 10022, via e-mail at
placements@hcwco.com or via telephone at (646) 975-6996.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp., or the Company, is a
research and clinical-stage biomaterials and biotechnology company
with a focus on treatment of spinal cord injuries. The company was
founded in 2005 with proprietary technology co-invented by Robert
Langer, Sc.D., Professor at Massachusetts Institute of Technology,
and Joseph P. Vacanti, M.D., who then was at Boston Children’s
Hospital and who now is affiliated with Massachusetts General
Hospital. The publicly traded company is headquartered in
Cambridge, MA.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
within the meaning of the federal securities laws. These statements
can be identified by words such as “believe,” “anticipate,”
“intend,” “estimate,” “will,” “may,” “should,” “expect” and similar
expressions, and include statements about the anticipated
completion, timing and size of the proposed public offering. Any
forward-looking statements contained herein are based on current
expectations and are subject to a number of risks and
uncertainties. Factors that could cause actual future results to
differ materially from current expectations include, but are not
limited to, satisfaction of customary closing conditions related to
the proposed offering, risks and uncertainties relating to the
Company’s ability to successfully open additional clinical sites
for enrollment and to enroll additional patients; the timing of the
Institutional Review Board process; the Company’s ability to obtain
FDA approval to commercialize its products; the Company’s ability
to develop, market and sell products based on its technology; the
expected benefits and efficacy of the Company’s products and
technology in connection with spinal cord injuries; the
availability of substantial additional funding for the Company to
continue its operations and to conduct research and development,
clinical studies and future product commercialization; and general
economic and market conditions and other factors discussed in the
“Risk Factors” section of the prospectus supplement and the
accompanying base prospectus to the Company’s Registration
Statement on Form S-3 relating to the proposed offering, which will
be filed with the SEC, and the Company’s Quarterly Report on Form
10-Q for the quarter ended September 30, 2019, and its other
filings with the SEC, including the Company’s Form 10-K, Form 10-Qs
and current reports on Form 8-K. The Company does not undertake to
update these forward-looking statements.
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IR: Bret Shapiro, Managing Partner CORE IR Phone: (516)
222-2560 brets@coreir.com
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