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InVivo Therapeutics Holdings Corp. Announces Proposed Public Offering

Posted: March 14, 2016 8:57 pm (UTC)

InVivo Therapeutics Holdings Corp. Announces Proposed Public Offering

CAMBRIDGE, Mass. — (BUSINESS WIRE) —

InVivo Therapeutics Holdings Corp. (NVIV) today announced that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The shares of common stock and warrants to purchase shares of common stock are being offered as units. The shares of common stock and warrants will be immediately separable and will be issued separately. In connection with this offering, InVivo intends to grant the underwriters an option to purchase an additional 15% of the securities sold in the offering. All securities in the offering are being offered by InVivo. The offering is subject to market conditions and there can be no assurance as to whether the offering may be completed, or as to the actual size or terms of the offering. Raymond James & Associates, Inc. will act as the sole book-running manager in the offering.

InVivo intends to use the net proceeds from this offering to fund ongoing clinical trials and for general corporate purposes.

The securities described above are being offered by the company pursuant to a shelf registration statement on Form S-3, as amended, previously filed with and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement related to the offering has been filed with the SEC. Electronic copies of the preliminary prospectus supplement may be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida, or by telephone, at (800) 248-8863, or e-mail at prospectus@raymondjames.com, or by accessing the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. 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. In 2011, the company earned the David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. In 2015, the company’s investigational Neuro-Spinal Scaffold received the 2015 Becker’s Healthcare Spine Device Award. The publicly-traded company is headquartered in Cambridge, MA. For more details, visit www.invivotherapeutics.com.

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,” “designed to,” “potentially,” and similar expressions, and include statements regarding the proposed public offering and the intended use of proceeds from the 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, market receptivity to the proposed offering and the value of the Company’s securities. Additional risk factors are included in the company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2015, and its other filings with the SEC, including the company’s 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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