InVivo Therapeutics Announces Pricing of Public Offering of Common Stock
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov 21, 2019--
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, 3 rd Floor, New York, New York 10022, via e-mail at email@example.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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Bret Shapiro, Managing Partner
Phone: (516) 222-2560
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SCIENCE STEM CELLS BIOTECHNOLOGY RESEARCH PHARMACEUTICAL SURGERY HEALTH MEDICAL DEVICES
SOURCE: InVivo Therapeutics Holdings Corp.
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PUB: 11/21/2019 08:00 AM/DISC: 11/21/2019 08:00 AM