Vivos Therapeutics, Inc. [VVOS] - convertible preferred issuance
Vivos Therapeutics, Inc. plans to issue convertible preferred stock to meet a minimum stockholders equity requirement of $2,500,000, exceeding it by $5.5 million, with a closing date anticipated on October 15, 2026.
Why this matters
Vivos Therapeutics, Inc., a company operating in the surgical and medical instruments sector, focuses on developing innovative treatments for sleep apnea and related conditions. The company has announced its plan to issue convertible preferred stock to meet a minimum stockholders equity requirement of $2,500,000, exceeding it by $5.5 million. This move is part of a strategic agreement to acquire an 11% equity interest in SOD Sciences, Inc. and a 50% co-ownership interest in a proprietary pseudohypoxia early-warning test. The transaction involves the issuance of 12,000 shares of Series C Convertible Preferred Stock with a stated value of $12 million and is expected to close on October 15, 2026, subject to customary conditions.