Viveve prices $30m offering

Viveve (NSDQ:VIVE) late last week priced an upcoming offering, looking to raise $30 million to support its Viveve system.

The Sunnyvale, Calif.-based company’s Viveve System is designed as a non-surgical treatment for post-partum laxity of the vaginal introitus.

Viveve said it plans to offer approximately 7.5 million shares of stock at $4 per share, with a 30-day underwriter’s option to purchase an additional 1.1 million shares.

Cowen and Company and Raymon James & Associates are acting as joint book-running managers, while Ladenburg Thalmann & Co is acting as co-manager. The company expects the offering to close on March 22, according to a press release.

Late last month, Viveve published results of a clinical study of its Viveve I treatment in the Journal of Sexual Medicine, reporting that women who received the treatment reported being more likely to have no vaginal laxity.

Earlier in February, Viveve said it will move its corporate headquarters to Englewood, Colo., from Sunnyvale, Calif.

The company said it signed a lease agreement for a new facility in Englewood, with physical relocation planned for the end of the 1st quarter of 2017, pending the build-out of the office and warehouse facilities.

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