InVivo Therapeutics Holdings Corp. (NASDAQ:NVIV) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On November 20, 2019, InVivo Therapeutics Holdings Corp. (the “Company”) entered into a Second Amendment to Warrant Agency Agreement and Warrants (the “Amendment”) with Continental Stock Transfer & Trust Company (“Continental”) that amends that certain Warrant Agency Agreement, by and between the Company and Continental, as Warrant Agent, dated June 25, 2018, as previously amended, and that certain Series A Common Stock Purchase Warrant (CUSIP: 46186M 126; ISIN: US46186M1264) (as amended, the “Series A Warrant”), dated June 25, 2018.
The Amendment amends Section 2(b) of the Series A Warrant to reduce the exercise price from $2.00 per share to $0.2327 per share. The Company would receive aggregate gross proceeds of approximately $1.8 million if all of the outstanding Series A Warrants are exercised at the reduced exercise price.
The Series A Warrants, and shares of common stock issuable upon exercise of the Series A Warrants, are registered on the Form S-1 that was filed with the Securities and Exchange Commission (“SEC”) on April 24, 2018 and declared effective by the SEC on June 20, 2018 (File No. 333-224424), which was amended by a post-effective amendment filed on June 21, 2019 and declared effective by the SEC on June 28, 2019, and an additional registration statement filed to Rule 462(b) (File No. 333-225768), which became effective when filed, which was also amended by a post-effective amendment filed on June 21, 2019 and declared effective by the SEC on June 28, 2019. The Company has filed a prospectus supplement with the SEC to reflect the changes to Section 2(b) of the Series A Warrants, which will also be mailed to the holders of record of the Series A Warrants.
The foregoing descriptions of the Amendment are not complete and are qualified in their entirety by reference to the full text of the Second Amendment to Warrant Agency Agreement and Warrants and the Form of Series A Warrant, as amended, copies of which are filed as Exhibits 10.1 and 10.2 hereto, respectively, and incorporated by reference herein.
Item 3.03. Material Modification to Rights of Security Holders.
The information contained above in Item 1.01 is hereby incorporated by reference into this Item 3.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 10.1 | Second Amendment to Warrant Agency Agreement and Warrant, by and between InVivo Therapeutics Holdings Corp. and Continental Stock Transfer & Trust Company, as Warrant Agent, dated November 20, 2019. |
| 10.2 | Form of Series A Common Stock Purchase Warrant, as amended. |
INVIVO THERAPEUTICS HOLDINGS CORP. Exhibit
EX-10.1 2 tm1923553d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Second Amendment to Warrant Agency Agreement and Warrant This Amendment,…
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About InVivo Therapeutics Holdings Corp. (NASDAQ:NVIV)
InVivo Therapeutics Holdings Corp., formerly Design Source, Inc., is a research and clinical-stage biomaterials and biotechnology company. The Company is engaged in developing and commercializing biopolymer-scaffolding devices for the treatment of spinal cord injuries (SCI). The Company’s approach to treating acute SCIs is based on its investigational Neuro Spinal Scaffold implant, an investigational bioresorbable polymer scaffold that is designed for implantation at the site of injury within a spinal cord contusion and is intended to treat acute spinal cord injury. The Neuro-Spinal Scaffold consists of biocompatible and bioresorbable polymers, which include poly lactic-co-glycolic acid (PLGA) and Poly-L-Lysine (PLL). The Company is also evaluating other technologies and therapeutics that may be complementary to its development of the Neuro-Spinal Scaffold implant. The Company has a clinical development program for acute SCI and a preclinical development program for chronic SCI.
