Vivos Therapeutics (NASDAQ:VVOS) told investors it has closed its previously announced $4 million private placement after issuing 980,393 shares of its common stock (or pre-funded warrants in lieu thereof) to a single institutional investor at a purchase price of $4.08 per share.
After deducting estimated offering expenses, Vivos said it expects the net proceeds from the private placement will be approximately $3.5 million. It intends to use the net proceeds from the offering for general working capital.