InVivo Therapeutics plummets on deep-discounted stock deal

InVivo Therapeutics Holdings

06/03/2020 15:01

** InVivo Therapeutics Holdings Corp  NVIV.O  plummets 56.3%
to record low of $2.14 after pricing $7 mln follow-on
    ** NVIV among biggest losers across U.S. exchanges Fri
    ** Co offers ~2.5 mln shares with warrants to buy up to same
amount of shares at combined price of $2.75, 44% discount to
stock's Thurs close  urn:newsml:reuters.com:*:nBw8FDyQka
    ** H.C. Wainwright exclusive placement agent for offering
    ** NVIV has ~591.7 mln shares outstanding, per Refinitiv
data
    ** On Feb 3, co announced 1-for-30 reverse stock split
effective Feb 11 AMC
    ** NVIV plunged 85% in 2019

 (Reporting by Lance Tupper)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))