CAMBRIDGE, Mass.--(BUSINESS WIRE)-- InVivo Therapeutics Holdings Corp. (NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries (SCI) and other neurotrauma conditions, today announced that it has commenced an offer to exchange outstanding warrants issued in 2010 to purchase approximately 15.0 million common shares ("2010 warrants") for new warrants. The 2010 warrants have exercise prices of $1.40 and $1.00 per share and expire in 2015. One of the primary reasons for the offering is to facilitate the Companys plans to uplist its stock to a national securities exchange such as NASDAQ or NYSE MKT. InVivo is offering new warrants with modified terms that extend the warrant expiration date for an additional two years in exchange for elimination of a provision in the 2010 warrants that provides anti-dilution protection if shares are sold at prices below the warrant exercise prices. The exchange offer will expire at 11:59 p.m. on May 6, 2013 unless extended. The purpose of the exchange offer is to remove the weighted average anti-dilution provisions from the 2010 warrants so InVivo's financial statements more closely reflect its operating results and financial condition and to facilitate a listing of the Company's common stock on a national … Continue reading
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