InVivo Therapeutics (Nasdaq:NVIV) announced today that it entered into a definitive agreement to offer $9 million in common stock.
Cambridge, Massachusetts-based InVivo entered the agreement with a single healthcare-focused institutional investor. The registered direct offering covers the sale and issuance of 523,810 shares of the Company’s common stock (or pre-funded warrants in lieu thereof).
In line with the offering, InVivo agreed with the investor on the sale and issuance of nearly 1.2 million shares in a private placement. The company also agreed to issue unregistered preferred investment options worth more than 1.7 million common stock shares.
The preferred investment options have an exercise price of $5.05 per share. InVivo made the immediately exercisable upon issuance with expiration 5.5 years following the date of issuance. The combined purchase price for one share of common stock and the preferred option totals $5.25.
H.C. Wainwright &…