Thursday after the markets closed, INVO Bioscience, Inc. (Nasdaq: INVO) developers of INVOcell®, the world’s only in vivo Intravaginal Culture System, announced the pricing of an underwritten public offering of 3,625,000 shares of its common stock at a public offering price of $3.20 per share. The gross proceeds to INVO Bioscience from this offering are expected to be approximately $11.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses. INVO Bioscience has granted the underwriters a 45-day option to purchase up to an additional 543,750 shares of common stock to cover over-allotments, if any. The offering is expected to close on November 17, 2020, subject to customary closing conditions. Shares of our common stock will begin trading on November 13, 2020 under the symbol “INVO” on the Nasdaq Capital Market. Roth Capital Partners acted as the sole book-running manager, with Colliers Securities LLC and Paulson Investment Company, LLC acting as co-managers for the offering.
INVO Bioscience, Inc. (Nasdaq: INVO) (“INVO”) is an innovative medical device company developing solutions for the global infertility industry. INVO’s goal is to increase access to care and expand fertility treatment across the globe while seeking to lower the cost and increase the availability of care. INVO’s lead commercial product, the INVOcell (pictured below), is a patented Assisted Reproductive Technology (ART) used in the treatment of infertility. The INVOcell device and procedure is unique as the first Intravaginal Culture (IVC) system in the world used for the natural in vivo incubation of eggs and sperm during fertilization and early embryo development. As an alternative to traditional in Vitro Fertilization (IVF), the revolutionary in vivo method of vaginal incubation offers patients a more natural and intimate experience. INVO Bioscience is headquartered in Sarasota, FL. For more information, please visit http://invobioscience.com/.
A registration statement relating to the securities being sold in this offering was filed with the Securities and Exchange Commission (SEC) was declared effective on November 12, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the final prospectus will be filed with the SEC and, when available, electronic copies of the final prospectus may be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by at (800) 678-9147, or by accessing the SEC’s website, www.sec.gov.
INDUSTRY SPOTLIGHT REPORT
Recently, the America Institute for Reproductive Medicine (AIRM), a boutique fertility practice established in Birmingham, Alabama, in 2017 by Dr. Cecil Long, former Medical Director of ART Fertility Program of Alabama published a report on their experience and success with implementing the INVO Bioscience’s INCOcell system in to their IVF practice since July 2018.
In 2019, they made the decision to almost exclusively perform INVOcell cycles, completing more than 350 within the first year and now over ~600 to date. They have discovered that the simplified INVOcell process reduces office visits by 50%, lab time by more than 65%, and medication by 75%. Please follow this link to learn more and read their complete report.