Viveve Announces Closing of Public Offering of Shares of Common Stock
12 December 2018 - 8:05AM
Viveve Medical, Inc. (“Viveve”) (NASDAQ: VIVE), a medical
technology company focused on women’s intimate health, today
announced the closing of its previously announced underwritten
public offering of 13,333,334 shares of its common stock at a
public offering price of $1.50 per share. The net proceeds to
Viveve from the offering were approximately $18.8 million, after
deducting underwriting discounts and commissions (but before
deducting estimated offering expenses payable by the Company).
Viveve intends to use the net proceeds from this offering to
support the continued commercialization of its products in North
America and internationally, to obtain additional regulatory
clearances and to conduct the VIVEVE II Sexual Function and
LIBERATE – International and LIBERATE – U.S. stress urinary
incontinence (SUI) clinical trials, and for general corporate and
working capital purposes.
In addition, Viveve has granted the underwriters
a 30-day option to purchase up to an additional 1,999,999 shares of
common stock.
Cowen acted as sole book-running manager of the
offering. Raymond James acted as lead manager for the offering.
Mizuho Securities acted as co-manager for the offering.
This announcement shall not constitute an offer
to sell or a solicitation of an offer to buy these securities nor
shall there be any offer or sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would
be unlawful.
The securities described above were offered by
Viveve pursuant to Viveve’s registration statements on Form S-3
(File Nos. 333-221432 and 333-213682) previously filed and declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”). Copies of the final prospectus supplement and accompanying
prospectuses filed with the SEC can be obtained from Cowen and
Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, Attn: Prospectus Department, or
by email at PostSaleManualRequests@broadridge.com, or by accessing
the SEC’s website, www.sec.gov.
About Viveve
Viveve Medical, Inc. is a women’s intimate
health company committed to advancing new solutions to improve
women’s overall well-being and quality of life. The internationally
patented Viveve® System, that delivers the Viveve treatment,
incorporates cryogen-cooled, monopolar radiofrequency (CMRF)
technology to uniformly deliver volumetric heating while gently
cooling surface tissue to generate neocollagenesis in a single
in-office session.
International regulatory approvals and
clearances have been received for vaginal laxity and/or improvement
in sexual function indications in over 50 countries. In the second
quarter of 2018, Viveve initiated VIVEVE II, a multicenter,
randomized, double-blind, sham-controlled clinical trial to assess
improvement of sexual function in women following vaginal
childbirth after receiving approval of an Investigational Device
Exemption (IDE) application from the U.S. Food and Drug
Administration (FDA) in March of 2018. If successful, this trial
could support a marketing application for a new U.S. commercial
indication. Currently, in the United States, the Viveve System is
cleared by the FDA for use in general surgical procedures for
electrocoagulation and hemostasis.
Viveve has initiated LIBERATE-International, one
of two planned independent, multicenter, randomized registration
trials for the improvement of SUI in women and plans to re-submit
an IDE to the FDA for LIBERATE-U.S., after conducting certain
safety testing in the third quarter of 2019. The results of these
two trials, if successful, could support marketing applications in
the U.S. and additional countries around the world for this new
commercial indication.
Safe Harbor Statement
All statements in this press release that are
not based on historical fact are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. While
management has based any forward-looking statements included in
this press release on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties and other factors, many of which are outside of our
control, which could cause actual results to materially differ from
such statements. Such risks, uncertainties and other factors
include, but are not limited to, future expectations, plans and
prospects for us, and the timing of these events, along with those
risks set forth in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, our Quarterly Report on Form 10-Q for
the quarter ended September 30, 2018, and the prospectus supplement
related to the public offering, as well as discussions of potential
risks, uncertainties and other important factors in our subsequent
filings with the SEC, which are or will be available for review at
www.sec.gov. Furthermore, we operate in a highly competitive and
rapidly changing environment where new and unanticipated risks may
arise. Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. We
disclaim any intention to, and undertake no obligation to, update
or revise forward-looking statements to reflect events or
circumstances that subsequently occur or of which we hereafter
become aware, unless required by law.
Viveve is a registered trademark of Viveve,
Inc.
Investor Relations
contacts: Sarah McCabe Stern Investor Relations, Inc.
(212) 362-1200 sarah@sternir.com Amato and Partners, LLC Investor
Relations Counsel admin@amatoandpartners.com Media
contact: Kelly Wakelee Berry & Company Public
Relations (212) 253-8881kwakelee@berrypr.com
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