(RTTNews) - Vivani Medical, Inc. (VANI), a clinical-stage biopharmaceutical company, has offered to sell 1.69 million shares of common stock at $1.48 per share in a registered direct offering, along with a concurrent private placement of 1.35 million common shares at the same price, purchased by Gregg Williams, Chairman of the Board.
The gross proceeds to the company from the registered offering and private placement are expected to be approximately $4.5 million.
The registered offering and private placement are expected to close on or about January 27, 2026.
ThinkEquity is acting as the sole placement agent for the registered direct offering.
The preclinical stage development candidates of Vivani include NPM-139 semaglutide for obesity/weight Management, NPM-133 semaglutide for type 2 Diabetes, and OKV-119 Exenatide for canine & feline obesity. The clinical stage candidate, NPM-115 Exenatide, is for Obesity/Weight Management. Vivani anticipates initiating clinical development of NPM-139, in obesity and chronic weight management in 2026.
The Company intends to use the net proceeds from the registered offering and private placement to fund ongoing research and clinical development of the Company's product candidates, as well as for working capital and general corporate purposes.
Over the year, VANI has traded in a range of $0.90 to $1.92. The stock closed Friday's trading at $1.48, down 0.68%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
