Summary by Futu AI
On June 10, 2024, Vivos Therapeutics, Inc., a medical technology company specializing in treatments for sleep-related breathing disorders, entered into a securities purchase agreement with V-CO Investors LLC, an affiliate of New Seneca Partners Inc. The agreement involved a private placement offering where Vivos sold shares and warrants to V-CO, resulting in gross proceeds of $7.5 million for Vivos. The funds are intended for general corporate purposes and working capital. Concurrently, Vivos' subsidiary VSI Providers, PLLC, and Rebis Health Holdings, LLC entered into a strategic alliance agreement for joint marketing and distribution, targeting sleep apnea treatment solutions. Additionally, a management services agreement was signed between Vivos, Airway Integrated Management Company, LLC, and V-CO, where V-CO will provide management and advisory services related to the strategic alliance. The private placement and strategic agreements were announced in a press release on June 12, 2024, and aim to enhance Vivos' revenue streams and potential profit through collaborative efforts in marketing and distribution.