Why Vivos Therapeutics Shares Are Nosediving

Vivos Therapeutics Inc VVOS shares are trading lower by 9.57% to $1.70 Thursday morning after the company priced an $8 million private placement at $1.20 per unit.

Vivos Therapeutics says, after the placement agent fees and estimated offering expenses payable by the company, Vivos expects to receive net proceeds of approximately $7.5 million.

The offering is expected to close on January 9, subject to customary closing conditions.

See Also: What's Going On With Apple Stock Today?

According to data from Benzinga Pro, VVOS has a 52-week high of $3.69 and a 52-week low of $0.34.