Blog Exposure – InVivo Therapeutics Signs Share Repurchase Agreement with Lincoln Park Capital

LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free research report on InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) (“InVivo Therapeutics”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NVIV as the Company’s latest news hit the wire. On January 26, 2018, the Company declared that it has signed a common stock purchase agreement with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which it will have the right to sell up to $15 million in shares of its common stock to Lincoln Park over a two-year period. Lincoln Park is a Chicago-based investment group and asset management firm focused on investing in public and private companies, real estate, and money management strategies. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, InVivo Therapeutics Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=NVIV

InVivo Therapeutics has issued shares of its stock to Lincoln Park as a commitment fee.

Conditions and Limitations of the Agreement

As part of the purchase agreement, InVivo Therapeutics, in its sole discretion, controls the timing and amount of any sales of common stock. No warrants are involved. Lincoln Park cannot require the Company to make sales but is obligated to make purchases as directed by the Company, and that there are no upper limits on the price Lincoln Park could be obligated to pay. The deal also has no financial covenants, rights of first refusal, participation rights, or liquidated damages. The purchase agreement may be terminated by InVivo Therapeutics at any time, in its sole discretion.

Agreement Offered Financial Flexibility to InVivo Therapeutics

Richard Toselli, M.D., Acting Chief Executive Officer (CEO) of InVivo Therapeutics, stated that this agreement offered financial flexibility on favorable terms to the Company and its shareholders. Toselli added that InVivo Therapeutics welcomes the investment, as the Company pursue its near-term strategic objectives and continue its discussions with the US Food and Drug Administration (FDA) regarding a randomized controlled study in acute complete thoracic spinal cord injury that evaluates the Neuro-Spinal Scaffold™ compared to standard of care.

InVivo Therapeutics Exchanged Certain Warrants for Common Stock

In August 2017, InVivo Therapeutics announced that it exchanged certain outstanding warrants that were issued as part of a financing in 2014 (“2014 Warrants”) for shares of the Company’s common stock. InVivo Therapeutics negotiated individual exchange agreements with certain of the holders of the 2014 warrants, whereby warrants representing the vast majority of the existing 2014 Warrants were exchanged for 2,021,419 new shares of common stock. As a result of the issuance of the shares of common stock, the exercise price and number of shares subject to the remaining 2014 Warrants were adjusted. The exchange agreement benefited the shareholders and the Company by creating a substantially cleaner balance sheet for the Company and removing a significant financial overhang.

About InVivo Therapeutics Holdings Corp.

Founded in 2005 and headquartered in Cambridge, Massachusetts, InVivo Therapeutics is a research and clinical-stage biomaterials and biotechnology Company with a focus on the treatment of spinal cord injuries (SCI). The Company intends to develop its novel Neuro-Spinal Scaffold to treat acute SCI, and its Bio-engineered Neural TrailsTM (injectable combinations of biomaterials and neural stem cells) to treat chronic SCI.

Stock Performance Snapshot

January 26, 2018 – At Friday’s closing bell, InVivo Therapeutics Holdings’ stock marginally rose 0.75%, ending the trading session at $0.67.

Volume traded for the day: 490.38 thousand shares, which was above the 3-month average volume of 246.33 thousand shares.

After last Friday’s close, InVivo Therapeutics Holdings’ market cap was at $22.92 million.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 1.8% at the end of the session.

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