Full Press Release Details
Tivic Health Systems, Inc. Announces Pricing
of Initial Public Offering
Park, CA, November 10, 2021 - Tivic Health Systems, Inc. (Nasdaq: TIVC) ("Tivic" or the "Company"),
a commercial-phase bioelectronic medicine company, today announced the pricing of its initial public offering of 3,000,000 shares of its
common stock at a public offering price of $5.00 per share, for gross proceeds of $15,000,000, before deducting underwriting discounts
and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares
of common stock to cover over-allotments at the initial public offering price, less the underwriting discount. All of the shares of common
stock are being offered by the Company.
The Company intends to use the proceeds for initiatives
to grow sales of its ClearUP Sinus Relief ("ClearUP") device, including expanding advertising and public relations, growing
social media presence, upgrading and optimizing ecommerce infrastructure, online/website design and branding, and other programs to grow
awareness of ClearUP. To continue to position Tivic as a trusted brand for evidence-based therapies based on bioelectronic medicine, the
Company also plans to expand its clinical research and development activities to identify and validate new product candidates, move them
through pre-clinical and clinical development, and develop go-to-market strategies. Additionally, the Company intends to use proceeds
to support the launch of the next generation of ClearUP, ClearUP Gen 2, and plans to use the balance for general working capital. Although
the Company, from time to time, evaluates potential strategic investments and acquisitions, it does not have any definitive agreements
in place to make any such acquisitions at this current time.
Tivic's common stock is expected to begin
trading on the Nasdaq Capital Market on November 11, 2021 under the symbol "TIVC." The offering is expected to close on November
15, 2021, subject to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager
A registration statement on Form S-1 (File No.
333-258411) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on November
10, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained
from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think-equity.com.
The final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or
About Tivic Health Systems, Inc.
Tivic Health Systems, Inc. is a commercial-phase
healthtech company advancing bioelectronic medicine to deliver non-invasive solutions that treat disease, increase wellness and improve
lives. Its first product, ClearUP , is a patented handheld device that uses ultra-low current electrical waves to relieve symptoms
of sinus and nasal inflammation. ClearUP is a US FDA Class II and EU Class IIa medical device that has received three regulatory clearances:
(US FDA 510(k) number K182025, US FDA De Novo number DEN200006 and EU CE Mark Certificate number CE 704687). ClearUP consistently gets
high ratings from consumers across multiple sales platforms. Tivic's principal executive office is located in the San Francisco
Bay Area, California. Learn more at https://tivichealth.com.
Forward Looking Statements
This press release contains "forward-looking
statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained
in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by
the use of words such as "anticipate," "believe," "contemplate," "could," "estimate,"
"expect," "intend," "seek," "may," "might," "plan," "potential,"
"predict," "project," "target," "aim," "should," "will" "would,"
or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking
statements are based on Tivic Health Systems, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions
that are difficult to predict and include statements regarding the expected use of proceeds and expected closing. Further, certain forward-looking
statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are
described more fully in the section titled "Risk Factors" in the final prospectus related to the public offering filed with
the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Tivic
Health Systems, Inc. undertakes no duty to update such information except as required under applicable law.