CAMBRIDGE, Mass.--(BUSINESS WIRE)--InVivo Therapeutics Holdings Corp. (OTC/BB: NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries, today announced the pricing of an underwritten public offering of 8,281,574 shares of its common stock, offered at a price to the public of $2.10 per share, for gross proceeds of approximately $17.4 million. Net proceeds to InVivo, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $15.7 million. InVivo anticipates using the net proceeds from the offering for working capital and other general corporate purposes, including the research, development and pre-clinical and clinical trials for its product candidates, capital expenditures, repayment of debt and possibly acquisitions of other businesses, products or technologies. In addition, InVivo has granted the underwriters an option to purchase up to an additional 1,242,236 shares of its common stock to cover overallotments, if any. The offering is expected to close on or about February 23, 2012, subject to customary closing conditions.
