Sterne Agee was the lead agent and Maxim Group was co-placement agent
By Devika Patel
Knoxville, Tenn., Nov. 20 – Viveve Medical, Inc. settled a $6 million private placement of stock with 12 investors on Nov. 24, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced for about $6 million on Nov. 20.
The company sold 8,573,385 common shares at $0.70 apiece. The per-share price represents a 1.45% premium to the Nov. 19 closing share price of $0.69.
Investors included Stonepine Capital, LP, Alta BioEquities LP, an affiliate of director Dan Janney, chief executive officer Patricia Scheller and chief business officer and president James Atkinson.
Sterne Agee CRT was the lead agent, and Maxim Group LLC was co-placement agent.
Proceeds will be used for the commercial launch of the Viveve System.
Based in Sunnyvale, Calif., Viveve is a medical device company.
| Issuer: | Viveve Medical, Inc.
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| Issue: | Common stock
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| Amount: | $6,001,370
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| Shares: | 8,573,385
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| Price: | $0.70
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| Warrants: | No
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| Agents: | Sterne Agee CRT (lead) and Maxim Group LLC (co-placement agent)
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| Investors: | Stonepine Capital, LP, Alta BioEquities LP, Dan Janney, Patricia Scheller and James Atkinson
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 24
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| Stock symbol: | OTCBB: VIVMF
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| Stock price: | $0.69 at close Nov. 19
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| Market capitalization: | $40.05 million
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