Viveve Announces Pricing of Public Offering of Shares of Common Stock
07 Dezember 2018 - 3:49AM
Viveve Medical, Inc. (“Viveve”) (NASDAQ: VIVE), a medical
technology company focused on women’s intimate health, today
announced the pricing of an underwritten public offering of
13,333,334 shares of its common stock at a public offering price of
$1.50 per share. The gross proceeds to Viveve from the offering,
before deducting the underwriting discounts and commissions and
estimated offering expenses payable by Viveve, are expected to be
$20.0 million. All shares of common stock are being offered by
Viveve.
In addition, Viveve has granted the underwriters
a 30-day option to purchase up to an additional 1,999,999 shares of
common stock at the public offering price. The offering is expected
to close on or about December 11, 2018, subject to the satisfaction
of customary closing conditions. Viveve intends to use the net
proceeds from this offering to support the continued
commercialization of its products in North America and
internationally, to obtain additional regulatory clearances and to
conduct the VIVEVE II Sexual Function and LIBERATE – International
and LIBERATE – U.S. stress urinary incontinence (SUI) clinical
trials, and for general corporate and working capital purposes.
Cowen is acting as sole book-running manager of
the offering. Raymond James is acting as lead manager for the
offering. Mizuho Securities is acting as co-manager for the
offering.
This announcement shall not constitute an offer
to sell or a solicitation of an offer to buy these securities nor
shall there be any offer or sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would
be unlawful. The securities described above are being offered by
Viveve pursuant to Viveve’s registration statements on Form S-3
(File Nos. 333-221432 and 333-213682) previously filed and declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”).
The offering will be made only by means of a
prospectus supplement and accompanying prospectuses. A final
prospectus supplement and accompanying prospectuses relating to and
describing the terms of this offering will be filed with the SEC.
When available, copies of the final prospectus supplement and
accompanying prospectuses can be obtained from Cowen and Company,
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, Attn: Prospectus Department, or by email
at PostSaleManualRequests@broadridge.com, or by accessing the SEC’s
website, www.sec.gov.
About Viveve
Viveve Medical, Inc. is a women’s intimate
health company committed to advancing new solutions to improve
women’s overall well-being and quality of life. The internationally
patented Viveve® System, that delivers the Viveve treatment,
incorporates cryogen-cooled, monopolar radiofrequency (CMRF)
technology to uniformly deliver volumetric heating while gently
cooling surface tissue to generate neocollagenesis in a single
in-office session.
International regulatory approvals and
clearances have been received for vaginal laxity and/or improvement
in sexual function indications in over 50 countries. In the second
quarter of 2018, Viveve initiated VIVEVE II, a multicenter,
randomized, double-blind, sham-controlled clinical trial to assess
improvement of sexual function in women following vaginal
childbirth after receiving approval of an Investigational Device
Exemption (IDE) application from the U.S. Food and Drug
Administration (FDA) in March of 2018. If successful, this trial
could support a marketing application for a new U.S. commercial
indication. Currently, in the United States, the Viveve System is
cleared by the FDA for use in general surgical procedures for
electrocoagulation and hemostasis.
Viveve has initiated LIBERATE-International, one
of two planned independent, multicenter, randomized registration
trials for the improvement of SUI in women and plans to re-submit
an IDE to the FDA for LIBERATE-U.S., after conducting certain
safety testing in the third quarter of 2019. The results of these
two trials, if successful, could support marketing applications in
the U.S. and additional countries around the world for this new
commercial indication.
Safe Harbor Statement
All statements in this press release that are
not based on historical fact are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. While
management has based any forward-looking statements included in
this press release on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of our
control, which could cause actual results to materially differ from
such statements. Such risks, uncertainties and other factors
include, but are not limited to, our anticipated public offering,
future expectations, plans and prospects for us, and the timing of
these events, along with those risks set forth in our Annual Report
on Form 10-K for the fiscal year ended December 31, 2017, our
Quarterly Report on Form 10-Q for the quarter ended September 30,
2018, and the prospectus supplement related to the public offering,
as well as discussions of potential risks, uncertainties and other
important factors in our subsequent filings with the SEC, which are
or will be available for review at www.sec.gov. Furthermore, we
operate in a highly competitive and rapidly changing environment
where new and unanticipated risks may arise. Accordingly, investors
should not place any reliance on forward-looking statements as a
prediction of actual results. We disclaim any intention to, and
undertake no obligation to, update or revise forward-looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware, unless required by
law.
Viveve is a registered trademark of Viveve,
Inc.
Investor Relations
contacts:Sarah McCabe Stern Investor Relations, Inc. (212)
362-1200 sarah@sternir.com Amato and Partners, LLC Investor
Relations Counsel admin@amatoandpartners.com Media
contact: Kelly Wakelee Berry & Company Public
Relations (212) 253-8881kwakelee@berrypr.com
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