Vivos Therapeutics Announces Reverse Stock Split - Seite 2

To effectuate the Reverse Stock Split, Vivos filed a Certificate of Amendment to its Certificate of Incorporation, as amended, which was accepted for filing by the Secretary of State of the State of Delaware on Wednesday, October 25, 2023.

Among other considerations, the Reverse Stock Split is intended to bring Vivos into compliance with the $1.00 minimum bid price requirement for maintaining the listing of its Common Stock on the Nasdaq Capital Market, and to make the prevailing prices of the Common Stock more attractive to a broader group of institutional investors. Vivos anticipates it will regain compliance with Nasdaq’s minimum bid price requirement if the Common Stock trades significantly above $1.00 for ten trading days following the effectiveness of the Reverse Stock Split.

The combination of, and reduction in, the number of issued shares of Common Stock as a result of the Reverse Stock Split occurred automatically on Wednesday, October 25, 2023 without any additional action on the part of Vivos’ stockholders. Vivos’ transfer agent, VStock Transfer LLC, is acting as the exchange agent for the Reverse Stock Split and will send each stockholder a transaction statement indicating the number of shares of Common Stock the stockholder holds after the Reverse Stock Split. Stockholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker’s particular processes. Such stockholders will not be required to take any action in connection with the Reverse Stock Split.

Additional information regarding the Reverse Stock Split can be found in a Current Report on Form 8-K that Vivos will file with the U.S. Securities and Exchange Commission (the “SEC”). Additional information may also be found in Vivos’ definitive proxy statement for its 2023 Annual Meeting of Stockholders, as filed with the SEC on August 28, 2023. Links to these documents are available at https://www.sec.gov/edgar/searchedgar/companysearch and on Vivos’ website at https://vivos.com/sec-filings/.

About Vivos Therapeutics, Inc.

Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as mild-to-moderate obstructive sleep apnea (“OSA”) and snoring in adults. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for treating mild to moderate OSA in adults. It has proven effective in approximately 40,000 patients treated worldwide by more than 1,800 trained dentists.