Vivos Therapeutics Inc. (NASDAQ: VVOS) entered into twelve agreements on August 31 to exchange $2,861,270 in outstanding principal under a secured promissory note held by Streeterville Capital LLC for 11,445,080 shares of common stock, priced at $0.25 per share.
The transaction follows an earlier exchange on August 4, when Vivos swapped $3,250,000 in principal under the same Streeterville Note for 2,500 shares of Series B non-convertible preferred stock and 1,812,031 shares of common stock.
The original note, issued on June 9, 2025, carried a principal amount of $8,225,000. As of August 31, the outstanding balance stood at approximately $3.7 million, inclusive of fees and original issue discount.
Vivos said the exchanges are expected to reduce the company's liabilities and increase stockholders' equity as the partitioned notes are surrendered and cancelled. The final financial impact will be reflected in the quarter in which each exchange settles.
Vivos Therapeutics, based in Littleton, Colorado, develops and commercializes diagnostic and treatment methods for patients with obstructive sleep apnea and other breathing and sleep disorders. Its devices have received FDA clearance for adult patients across all severity levels of OSA, as well as for moderate-to-severe OSA in children ages 6 to 17.
