Vivos Therapeutics, Inc. has extended its strategic financing agreement with Streeterville Capital, LLC through August 31, 2026, to allow more time for capital-raising activities. The extension reaffirms Streeterville's commitment to convert up to $4.5 million of outstanding debt into a combination of perpetual, non-convertible preferred stock and common stock. The company determined that the original agreement's timeframe was insufficient to complete its capital requirements. The additional time is intended to allow the company to raise needed equity in an organized fashion and to permit a previously announced rights offering to commence during that period.

Financing Agreement Details

The extended agreement maintains the core terms of the original strategic financing deal. Streeterville Capital will convert the specified debt amount into equity, providing Vivos with financial flexibility. The conversion involves both preferred and common stock, aligning with the company's long-term capital structure strategy. The conversion occurs once the company raises $2.6 million and will continue up to a maximum of $4.5 million. This structure supports the company’s plan to strengthen its stockholders’ equity and maintain compliance with the continued listing standards of The Nasdaq Stock Market.

Key Terms of the Extension

The extension ensures Vivos can proceed with its capital-raising initiatives without the immediate pressure of the previous deadline. The company focuses on treating breathing-related sleep disorders, including mild-to-severe obstructive sleep apnea.

Vivos Inc., a medical device company pioneering Precision Radionuclide Therapy™ (PRnT) for the treatment of cancerous tumors, has received its State of Washington Radioactive Materials License for the manufacturing of IsoPet®. This regulatory authorization enables the company to commence in-house production of its animal health division's product at its new domestic manufacturing facility. The company anticipates shipping its first production run in the near future to support the expansion of certified IsoPet® treatment centers nationwide.

The license clears the way for manufacturing operations at the Applied Process Engineering Laboratory (APEL) in Richland, Washington. This facility will serve as the production site for IsoPet®, marking a significant step in the company's operational capabilities within the state. David Swanberg, Chief Operating Officer of Vivos Inc., stated that securing the license enables the establishment of reliable, compliant domestic manufacturing capabilities to scale production and meet growing demand from veterinarians and pet owners.

Operational Expansion

The approval allows Vivos to integrate manufacturing directly into its operations at APEL. The facility is positioned to support the production needs of the company's animal health division. Following this grant, Vivos will immediately apply for an amendment to add RadioGel® to the license. This amendment will support clinical trials in the United States and, as necessary, internationally.

Facility Details

IsoPet® delivers a high therapeutic dose of Yttrium-90 directly into the tumor, providing a precise, effective treatment option with minimal impact on surrounding healthy tissue. The company continues to see strong interest and adoption growth in its animal therapy division.