Viveve prices upcoming $30m offering
Viveve (NSDQ:VIVE) today priced an upcoming offering, looking to raise approximately $30 million to support continued clinical research and development and commercialization of its products.
The Englewood, Colo.-based company said it will look to offer a total of 10 million shares in the round at $3 per share in the offering.The offering also includes a 30-day option to purchase an additional 1.5 million shares at the public offering price, bringing the total possible for the round up to $34.5 million, according to a press release.
The company said it expects the offering to close around Feb. 12, and that proceeds will support continued commercialization, clinical research and development, working capital and general corporate purposes.
Cowen is acting as sole book-running manager for the offering, with Raymond James as lead manager and Ladenburg Thalmann and Maxim Group acting as co-managers, the company said.
Viveve’s flagship device is the Viveve System, which is designed as a non-surgical treatment for post-partum laxity of the vaginal introitus.
Last December, Viveve announced results from a sub-analysis of its Viveve 1 trial exploring the use of the Viveve system for treating vaginal introitus in women with sexual dysfunction, touting improvements on the Female Sexual Functions Index.