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NVIV > SEC Filings for NVIV > Form 8-K on 4-Jun-2013All Recent SEC Filings

Show all filings for INVIVO THERAPEUTICS HOLDINGS CORP. | Request a Trial to NEW EDGAR Online Pro



Other Events

Item 8.01 Other Events.

On June 3, 2013, the call notice period for the early exercise of warrants issued to certain investors of InVivo Therapeutics Holdings Corp. (the "Company") on October 26, 2010, November 10, 2010 and December 3, 2010 (the "Investor Warrants") expired. During the call notice period, 100% of the remaining Investor Warrants were exercised. These exercises, coupled with warrant exercises during April 2013, raised $16.1 million gross and $15.6 million after solicitation expenses. Approximately 11.5 million shares of common stock were issued in connection with these warrant exercises. The combination of the exercise of all the Investor Warrants along with the warrant exchange offer completed on May 17, 2013 for placement agent and other eligible warrants resulted in the complete reversal and elimination of the $24.6 million warrant liability recorded on the Company's books as of March 31, 2013.

Set forth below is the Company's unaudited consolidated condensed balance sheet as of June 3, 2013:

                       InVivo Therapeutics Holdings Corp.

                        (A Developmental Stage Company)

                      Consolidated Condensed Balance Sheet

                                   (In 000's)

                                                        As of June  3,

           Cash and restricted cash                     $        23,607
           Prepaid expenses                                         166
           Fixed and other assets                                 2,822

           Total assets                                 $        26,595

           Accounts payable and accrued expenses        $         1,059
           Loans and capital leases payable                       1,822
           Stockholders' equity                                  23,714

           Total liabilities and stockholders' equity   $        26,595

This information is not necessarily indicative of the Company's unaudited consolidated balance sheet as of June 30, 2013. Additional information may arise during the Company's close process or as a result of subsequent events that would require the Company to make adjustments to the financial information. In addition, adjustments to the Company's financial statements may be identified through the course of the Company's independent registered public accounting firm conducting and completing its review of the Company's financial statements for the quarter ended June 30, 2013.

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