India, Oct. 15 -- On Thursday, Vivos Therapeutics, Inc. (VVOS), a medical device and healthcare services company focused on obstructive sleep apnea (OSA) and sleep-related breathing disorders, announced a definitive agreement to acquire an 11% fully diluted equity interest in SOD Sciences, Inc. and a 50% co-ownership interest in SOD's proprietary pseudohypoxia test.
The transaction involves the issuance of 12,000 shares of newly created Series C Convertible Preferred Stock with an aggregate stated value of $12 million. No cash consideration will be paid. Closing is subject to customary conditions, including accounting review, consent from the holder of Vivos' Series B preferred stock and Nasdaq notification.
SOD Sciences develops the ReBa...