Vivos Therapeutics Extends Financing Agreement With Streeterville Through August

MT Newswires Live06-22

Vivos Therapeutics (VVOS) said Monday it has extended its strategic financing agreement with Streeterville Capital through Aug. 31, giving it additional time to complete planned capital-raising efforts.

Under the revised agreement, the company said Streeterville reaffirmed its commitment to convert up to $4.5 million of outstanding debt into a combination of perpetual non-convertible preferred stock and common shares.

The conversion will begin once Vivos raises $2.6 million in equity and continue on a dollar-for-dollar basis up to the $4.5 million limit, the company added.

Vivos said the extension would support its efforts to strengthen shareholders' equity, launch a previously announced rights offering and maintain compliance with Nasdaq listing requirements.

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