Key Terms of the Proposed Rights Offering

  • Exercise price: Each right is expected to entitle the holder to purchase one share of Vivos common stock at an exercise price that is the greater of $1.25 per share or 20% above the market price on the day before the record date as defined above. The final exercise price will be set forth in the prospectus.
  • Trading and transferability: The rights are intended to be listed for trading on a securities exchange, subject to satisfaction of applicable listing requirements and any regulatory requirements.
  • Term: The rights will be exercisable for a period of nine (9) months.
  • Subsequent ("exploding") right: Upon exercise of a right, the holder is expected to receive a similar nine-month trading right with an expected exercise price that is the greater of $1.75 per share or 40% above the market on the day before the record date. The terms of any subsequent right will be described in the prospectus.