Vivos Therapeutics, which is developing medical devices for sleep disordered breathing, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
The Highlands Ranch, CO-based company plans to raise $20 million by offering 3.3 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Vivos Therapeutics would command a fully diluted market value of $107 million.
Vivos is focused on the development and commercialization of a clinically effective non-surgical, non-invasive, non-pharmaceutical, and low-cost solution for sleep disordered breathing, including mild-to-moderate obstructive sleep apnea (OSA). Its treatment, the Vivos System, involves specially designed and customized oral appliances and treatment protocols. Its patented oral appliances have proven effective in over 15,000 patients treated worldwide by more than 1,200 trained dentists.
Vivos Therapeutics was founded in 2007 and booked $13 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol VVOS. Roth Capital is the sole bookrunner on the deal.
