Viveve closes $16m uplisting

Viveve (NSDQ:VIVE) said today that its uplisting to the NASDAQ exchange grossed $15.5 million, including an unwriters over-allotment.

Sunnyvale, Calif.-based Viveve, which makes a non-surgical treatment for post-partum laxity of the vaginal introitus, said it sold more than 3.1 million shares at $5 apiece, for net proceeds of about $14 million.

Earlier this week Viveve tweaked the value of the flotation, saying it expecting to sell 2.7 million shares for a gross of $13.5 million. The company pulled the trigger on a 1-for-8 reverse split into place in April, and said in May that it planned to offer 1.6 million shares at $8 a piece.

Ladenburg Thalmann and Craig-Hallum Capital were joint book-runners for the offering, with Maxim Group as co-manager.

Viveve’s losses widened last year by 101.1% to -$12.4 million, or -$2.47 per share, on sales growth of 1,507.8% to $1.4 million compared with 2014, according to the filing. Last month the company said 1st-quarter losses grew 62.7% to -$4.1 million, or -55 per share, on sales of $1.3 million for the 3 months ended March 31.

VIVE shares have traded as high as $5.05 this week and were up 0.7% to $4.99 in mid-afternoon trading today.

The post Viveve closes $16m uplisting appeared first on MassDevice.

from MassDevice http://ift.tt/28L03Dc