SARASOTA, Fla., Aug. 8, 2023
/PRNewswire/ -- INVO Bioscience, Inc. (Nasdaq: INVO) ("INVO"
or the "Company"), a healthcare services fertility company focused
on expanding access to advanced treatment worldwide with its
INVOcell® medical device and the intravaginal culture ("IVC")
procedure it enables, today announced the closing of its public
offering of 1,580,000 units, with each unit consisting of one share
of common stock and two warrants, each to purchase one share of
common stock. Each unit was sold at a public offering price
of $2.85. The warrants are immediately exercisable at a price
of $2.85 per share and will expire
five years from the date of issuance. The shares of common stock
and accompanying warrants were only purchasable together in this
offering, but were issued separately and immediately separable upon
issuance.
Gross proceeds, before deducting placement agent fees and other
offering expenses, were approximately $4.5 million.
Maxim Group LLC acted as sole placement agent in connection with
this offering.
The securities described above were offered pursuant to a
registration statement on Form S-1, as amended (File No.
333-273174) (the "Registration Statement"), which was declared
effective by the Securities and Exchange Commission (the
"SEC") on August 3, 2023. The offering was made only by means
of a prospectus which is a part of the Registration Statement. A
copy of the final prospectus relating to this offering has been
filed with the SEC and may be obtained from Maxim
Group LLC, 300 Park Avenue, 16th Floor, New York,
NY 10022, at (212) 895-3745.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About INVO Bioscience
We are a healthcare services fertility company dedicated to
expanding the assisted reproductive technology ("ART") marketplace
by making fertility care accessible and inclusive to people around
the world. Our commercialization strategy is focused on the opening
of dedicated "INVO Centers" offering the INVOcell® and IVC
procedure (with three centers in North
America now operational), the acquisition of US-based,
profitable in vitro fertilization ("IVF") clinics and the sale and
distribution of our technology solution into existing fertility
clinics. Our proprietary technology, INVOcell®, is a revolutionary
medical device that allows fertilization and early embryo
development to take place in vivo within the woman's body. This
treatment solution is the world's first intravaginal culture
technique for the incubation of oocytes and sperm during
fertilization and early embryo development. This technique,
designated as "IVC", provides patients a more natural, intimate,
and more affordable experience in comparison to other ART
treatments. We believe the IVC procedure can deliver comparable
results at a fraction of the cost of traditional IVF and is a
significantly more effective treatment than intrauterine
insemination ("IUI"). For more information, please visit
www.invobio.com.
Safe Harbor Statement
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
The Company invokes the protections of the Private Securities
Litigation Reform Act of 1995. All statements regarding our
expected future financial position, results of operations, cash
flows, financing plans, business strategies, products and services,
competitive positions, growth opportunities, plans and objectives
of management for future operations, as well as statements that
include words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will,"
and other similar expressions are forward-looking statements. All
forward-looking statements involve risks, uncertainties, and
contingencies, many of which are beyond our control, which may
cause actual results, performance, or achievements to differ
materially from anticipated results, performance, or achievements.
Factors that may cause actual results to differ materially from
those in the forward-looking statements include those set forth in
our filings at www.sec.gov. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE INVO Bioscience, Inc.