| | |
Per Share and
Series A Warrant |
| |
Per Series B
Pre-Funded Warrant and Series A Warrant |
| |
Total
|
| |||||||||
Public offering price
|
| | | $ | 0.80 | | | | | $ | 0.79999 | | | | | $ | 14,999,930 | | |
Placement Agent’s fees(1)
|
| | | $ | 0.056 | | | | | $ | 0.056 | | | | | $ | 1,050,000 | | |
Proceeds, before expenses, to us
|
| | | $ | 0.744 | | | | | $ | 0.744 | | | | | $ | 13,949,930 | | |
| | |
Page
Number |
| |||
| | | | ii | | | |
| | | | 1 | | | |
| | | | 6 | | | |
| | | | 10 | | | |
| | | | 12 | | | |
| | | | 13 | | | |
| | | | 14 | | | |
| | | | 15 | | | |
| | | | 18 | | | |
| | | | 23 | | | |
| | | | 29 | | | |
| | | | 31 | | | |
| | | | 32 | | | |
| | | | 33 | | | |
| | | | 34 | | |
|
Securities offered by us in this offering:
|
| | 11,785,000 shares of our common stock and Series A warrants to purchase 11,785,000 shares of common stock, and 6,965,000 Series B pre-funded warrants to purchase shares of common stock and Series A warrants to purchase 6,965,000 shares of common stock. | |
|
Description of Series A warrants:
|
| | The shares, or Series B pre-funded warrants, and Series A warrants will be separately transferable immediately upon issuance, but the shares, or Series B pre-funded warrants, and Series A warrants will be issued to purchasers in the ratio of one to one. Each Series A warrant will have an exercise price of $0.80 per share, will be exercisable upon issuance and will expire five years from the date of issuance. | |
|
Description of Series B pre-funded warrants:
|
| | If the issuance of shares of our common stock to a purchaser in this offering would result in such purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering, then such purchaser may purchase, if they so choose, in lieu of the shares of our common stock that would result in such excess ownership, a Series B pre-funded warrant to purchase shares of our common stock for a purchase price per share of common stock subject to such Series B pre-funded warrant equal to the per share public offering price for the common stock in this offering less $0.00001. Each Series B pre-funded warrant will have an exercise price of $0.00001 per share, will be exercisable upon issuance and will expire when exercised in full. Purchasers of Series B pre-funded warrants will also receive Series A warrants as if such purchasers were buying shares of our common stock in this offering. This prospectus also relates to the offering of the shares of common stock issuable upon exercise of these Series B pre-funded warrants. | |
|
Common stock outstanding after this offering:
|
| | 23,632,420 shares of common stock, assuming no exercise of the Series A warrants being issued in this offering, and the full exercise of the Series B pre-funded warrants issued in this offering. | |
|
Use of proceeds:
|
| | We intend to use the net proceeds from this offering for working capital, business development activities, and general corporate purposes. See “Use of Proceeds” on page 12 of this prospectus. | |
|
Dividend policy:
|
| | We have never paid cash dividends on our common stock. We currently anticipate that we will retain future earnings for the development, operation and expansion of our business and do not anticipate | |
| | | | declaring or paying any cash dividends for the foreseeable future. | |
|
Risk factors:
|
| | See “Risk Factors” beginning on page 6 and the section entitled “Risk Factors” included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 as revised or supplemented by our subsequent Quarterly Reports on Form 10-Q including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which are incorporated herein by reference, and the other information included or incorporated by reference elsewhere in this prospectus for a discussion of factors you should carefully consider before deciding to invest in our securities. | |
|
Nasdaq Capital Market symbol:
|
| | Our common stock is listed on the Nasdaq Capital Market under the symbol “NVIV.” There is no established trading market for the Series A warrants or the Series B pre-funded warrants, and we do not expect a trading market to develop. We do not intend to list the Series A warrants or the Series B pre-funded warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the Series A warrants or Series B pre-funded warrants will be extremely limited. | |
| | |
As of June 30, 2020
|
| |||||||||
| | |
Actual
|
| |
Pro Forma
As Adjusted(1) |
| ||||||
| | |
(Unaudited)
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 9,825 | | | | | $ | 23,350 | | |
Stockholders’ equity
|
| | | | | | | | | | | | |
Common stock, $0.00001 par value – 16,666,667 shares authorized, 4,882,420 shares issued and outstanding, on an actual basis; 50,000,000(1) shares authorized, 23,632,420 shares issued and outstanding on a pro forma as adjusted basis
|
| | | | 2 | | | | | | 2 | | |
Additional paid-in capital
|
| | | | 233,791 | | | | | | 247,316 | | |
Accumulated deficit
|
| | | | (223,763) | | | | | | (223,763) | | |
Total stockholders’ equity
|
| | | | 10,030 | | | | | | 23,555 | | |
Total capitalization
|
| | | $ | 10,030 | | | | | $ | 23,555 | | |
|
Per share and Series A warrant placement agent cash fees
|
| | | $ | 0.056 | | |
|
Per Series B pre-funded warrant and Series A warrant placement agent cash fees
|
| | | $ | 0.056 | | |
|
Total
|
| | | $ | 1,050,000 | | |