Tivic Health Announces Pricing of $1.4 Million Public Offering of Common Stock
06 Agosto 2023 - 7:17PM
Business Wire
Tivic Health® Systems, Inc. (“Tivic”, “Company”, Nasdaq: TIVC),
a health tech company that develops and commercializes
bioelectronic medicine, today announced the pricing of its
previously announced public offering of 33,173,000 shares of its
common stock at a public offering price of $0.041 per share. Gross
proceeds from the offering are expected to be approximately $1.4
million before deducting placement agent fees and estimated
offering expenses. Tivic intends to use the net proceeds of the
offering for working capital and general corporate purposes.
Maxim Group LLC is acting as the sole placement agent, on a
reasonable best efforts basis, for the offering.
The closing of the offering is expected to occur on or about
August 9, 2023, subject to satisfaction of customary closing
conditions.
A shelf registration statement on Form S-3 (File No. 333-269494)
relating to the securities being offered was filed with the U.S.
Securities and Exchange Commission (the “SEC”) on February 1, 2023,
and became effective on February 8, 2023. The shares may be offered
only by means of a prospectus. A preliminary prospectus supplement
and the accompanying prospectus relating to and describing the
terms of the public offering have been filed with the SEC. A final
prospectus supplement and an accompanying prospectus relating to
the offering will be filed with the SEC and will be available on
the SEC’s website at www.sec.gov. When available, copies of the
final prospectus supplement and accompanying prospectus relating to
the public offering may also be obtained by contacting Maxim Group
LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention:
Prospectus Department, or by telephone at (212) 895-3745 or by
email at syndicate@maximgrp.com. Before you invest, you should read
the preliminary prospectus supplement and accompanying prospectus,
together with the information incorporated by reference therein,
for more complete information about Tivic and the proposed
offering. The final terms of the offering will be disclosed in a
final prospectus supplement to be filed with the SEC.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 Tivic
Tivic is a commercial health tech company advancing the field of
bioelectronic medicine. Tivic’s patented technology platform
leverages stimulation on the trigeminal, sympathetic, and vagus
nerve structures. Tivic’s non-invasive and targeted approach to the
treatment of inflammatory chronic health conditions gives consumers
and providers drug-free therapeutic solutions with high safety
profiles, low risk, and broad applications. Tivic’s first
commercial product ClearUP is an FDA approved, award-winning,
handheld bioelectronic sinus device. ClearUP is clinically proven,
doctor-recommended, and is available through online retailers and
commercial distributors. For more information visit
http://tivichealth.com @TivicHealth
Forward-Looking Statements:
This press release may contain “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
“will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on Tivic Health
Systems, Inc.’s current expectations and are subject to inherent
uncertainties, risks, and assumptions that are difficult to
predict. Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
Actual results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: risks and uncertainties associated
with market conditions and the satisfaction of customary closing
conditions related to the proposed public offering; the continued
listing of the company’s common stock on the Nasdaq Capital Market;
the company’s financial condition; the company’s ability to raise
additional capital, if and when necessary; clinical trial results
for the company’s product candidates; market, economic and other
conditions; supply chain constraints; macroeconomic factors,
including inflation; and unexpected costs, charges or expenses that
reduce Tivic’s capital resources. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. For a discussion of other risks
and uncertainties, and other important factors, any of which could
cause Tivic’s actual results to differ from those contained in the
forward-looking statements, see Tivic’s filings with the SEC,
including, its Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the SEC on March 31, 2023, under the
heading “Risk Factors”; as well as the company’s subsequent filings
with the SEC. Forward-looking statements contained in this press
release are made as of this date, and Tivic Health Systems, Inc.
undertakes no duty to update such information except as required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230806289615/en/
Media Contact:
Kayleigh Westerfield 949-632-3439
Kayleigh.Westerfield@tivichealth.com
Investor Contact:
Hanover International, Inc. ir@tivichealth.com
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