Business
Viveve Announces $6 Million Private Placement of Common Stock Led by Leading Healthcare-Focused Institutional Investors
Viveve Announces $6 Million Private Placement of Common Stock Led by Leading Healthcare-Focused Institutional Investors.
About this update from Viveve Medical, Inc.
[{"type":"text","content":"\nViveve Announces $6 Million Private Placement of Common Stock Led by Leading Healthcare-Focused Institutional Investors\n\nViveve Announces $6 Million Private Placement of Common Stock Led by Leading Healthcare-Focused Institutional Investors\n\nSUNNYVALE, CA--(Marketwired - November 20, 2015) - Viveve Medical, Inc. (\"Viveve\") (OTCQB: VIVMF), a company focused on women's health, today announced that it has entered into definitive agreements for the sale of $6 million of its common stock in a private placement. Under the terms of the agreements, Viveve has agreed to sell approximately 8.6 million shares at a per share purchase price of $0.70.Viveve plans to use the net proceeds from the offering to support the commercial launch of the Viveve® System in the 46 countries where it is now available through select distributors. The closing of the private placement is anticipated to occur on or about November 24, 2015, subject to the satisfaction of customary closing conditions. \"This financing strengthens our balance sheet and will continue to support the commercial launch of the Viveve® System in the regions where we have regulatory approvals,\" said Patricia Scheller, Chief Executive Officer of Viveve.\"We're pleased to have such strong support from existing investors, including participation from Stonepine Capital, RTW Investments, Alta Bioequities, Wexford Capital LP, Manchester Management Company, LLC, as well as other investors and company management,\" said Scott Durbin, Viveve's Chief Financial Officer.Sterne Agee CRT acted as lead placement agent and Maxim Group LLC acted as co-placement agent for the transaction.The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Viveve has agreed to file a registration statement covering the resale of the common stock issued in the private placement. The securities were offered only to accredited investors. This release does not constitute an offer to sell or the solicitation of an offer to buy t...