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Posted February 21, 2012
CAMBRIDGE, Mass.--(BUSINESS WIRE)--InVivo Therapeutics Holdings Corp. (OTC/BB: NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries, today announced the full exercise of the over-allotment option granted to the underwriters to purchase 1,242,236 additional shares, at a public offering price of $2.10 per share, in connection with its previously announced underwritten public offering of 8,281,574 shares, bringing aggregate gross proceeds from the offering to $20 million dollars. Net proceeds to InVivo, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $18.1 million. The offering is expected to close on or about February 23, 2012, subject to customary closing conditions.
Aegis Capital Corp. and Summer Street Research Partners are acting as joint book-running managers for the offering.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is focused on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury. The company was founded in 2005 on the basis of proprietary technology co-invented by Robert Langer, ScD. Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who is affiliated with Massachusetts General Hospital. In 2011, the company earned the prestigious David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. The publicly traded company is headquartered in Cambridge, Mass. For more details, visit http://www.invivotherapeutics.com.
InVivo Therapeutics Holdings Corp.
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InVivo Therapeutics Announces Net $18.1M In Offering
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