Vapotherm, Inc. (NYSE: VAPO), (“Vapotherm” or the “Company”), a global medical technology company focused on the development and commercialization of its proprietary Vapotherm high velocity therapy® products, which are used to treat patients of all ages suffering from respiratory distress, today announced that it has entered into a securities purchase agreement (the “Purchase Agreement”) with a select group of institutional and accredited investors through a private placement financing (“PIPE”) for gross proceeds of approximately $23.0 million, before deducting fees to the placement agent and other offering expenses. Pursuant to the Purchase Agreement, the Company agreed to issue 17,502,244 shares of its common stock and pre-funded warrants to purchase up to 4,402,508 shares of its common stock. The pre-funded warrants will have a term of 30 years and an exercise price of $0.001 per share. In addition, the Company agreed to issue accompanying warrants to purchase one share of common stock for each share of common stock or pre-funded warrant to be purchased by the investors. The warrants will be exercisable immediately upon issuance, in whole or in part, at an exercise price of $1.17 per share and will have a 5-year life. The closing is expected to occur on February 10, 2023, subject to the satisfaction of customary closing conditions.
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