InVivo Therapeutics (OTC:NVIV) said last week it signed a sales agreement with Cowen and Company to sell up to $50,000,000 worth of shares in the company.
Under the agreement, Cowen and Company will receive 3% of gross proceeds from sales of the stock, Cambridge, Mass.-based InVivo said. InVivo will control the amount of shares sold.
The agreement can be terminated by either side, according to the spinal-focused medical device company.
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