Vivos Therapeutics, Inc. intends to file a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed rights offering to raise capital for operations and general corporate purposes. The company plans to distribute transferable subscription rights to shareholders as a dividend, subject to the SEC declaring the registration statement effective. The record date is proposed to be set as the 30th day following the registration statement being declared effective by the SEC, though there is no assurance regarding the timing of effectiveness.

The rights offering includes an exercise price set at the greater of $1.25 per share or 20% above the market price on the day before the record date. Shareholders will have a nine-month period to exercise these rights, which are intended to be listed for trading on a securities exchange pending satisfaction of listing and regulatory requirements. Additionally, the offering features a subsequent "exploding" right, granting holders a similar nine-month trading right upon the exercise of the initial right.

The subsequent right carries an expected exercise price of $1.75 per share or 40% above the market price on the day before the record date, whichever is greater. This structure is designed to incentivize early participation by offering potentially more favorable terms to those who exercise their initial rights promptly. All terms remain preliminary and indicative, with final details to be set forth in the prospectus.

Key Terms of the Proposed Rights Offering

Completion of the offering is subject to several conditions, including the preparation and effectiveness of the registration statement, compliance with exchange rules, and the availability of authorized but unissued shares. This may require an amendment to the company's certificate of incorporation and a shareholder vote. R. Kirk Huntsman, Chief Executive Officer of Vivos Therapeutics, stated that the offering is intended to provide additional capital to support operations, though the company gave no assurance it will be commenced or completed.

Vivos Therapeutics, Inc. has entered into a collaboration agreement with South Palm Cardiovascular Associates, LLC to form and operate AIM Florida, LLC. The physician-aligned management services organization aims to expand access to integrated diagnostic and therapeutic clinical treatment services for cardiovascular disease patients in Florida who also suffer from obstructive sleep apnea and insomnia.

South Palm Cardiovascular Associates is a Florida-based cardiology practice with approximately 30,000 patients of record. The partnership leverages Vivos Therapeutics' expertise in treating breathing-related sleep disorders and associated chronic health conditions.

The formation of AIM Florida is intended to address the co-morbidity of cardiovascular disease and sleep disorders. By combining resources, the entities seek to provide comprehensive care to patients suffering from both conditions.

Vivos Therapeutics focuses on the treatment of breathing-related sleep disorders, including obstructive sleep apnea and insomnia. The company operates as a medical device and healthcare services provider.