InVivo Therapeutics set to open at record low on discounted stock offering

InVivo Therapeutics Holdings

21/11/2019 13:48

** Drug developer's  NVIV.O  shares plunge 48% to 12 cents
premarket - set to open at record low; highest pct loser before
opening bell
    ** Co announces public offering of 7 mln shares at a price
of 12 cents/shr, a discount of 48.4% from its closing price on
Wednesday  urn:newsml:reuters.com:*:nBw3GplZ1a
    ** Co expects gross proceeds of $840,000 before fees and
offering expenses; offering expected to close on or around Nov
22
    ** H. C. Wainwright acting as exclusive placement agent
    ** More than 448k shares traded, almost 5x co's 25-DMA
    ** Up to Wednesday's close, stock down 84.6% YTD

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))