VivoSim Labs prices USD 4 million private placement at USD 0.85 per share
VIVS•Warrant terms and repricing
The warrants will become exercisable after shareholder approval and will expire five years from the initial exercise date.
In addition, 520,833 May 2024 warrants will be repriced to $0.85 from $9.60, subject to shareholder approval, with a five-year term.
Use of proceeds and expected closing
Closing is expected around July 17, 2026.
VivoSim said the proceeds are earmarked for working capital and general corporate purposes.
Private placement priced with healthcare-focused investor
VivoSim Labs priced a $4 million private placement with a single healthcare-focused institutional investor at $0.85 per share and warrant.
The deal covers 4,705,883 common shares or equivalents, with warrants for up to 4,705,883 shares at a $0.85 exercise price.
