INVO Bioscience prices $13m offering

INVO Bioscience (OTCQB:IVOB) yesterday registered a common stock offering of more than $13 million, according to a regulatory filing.

The Lakewood Ranch, Fla.-based company is putting up nearly 41 million shares of its common stock for close to $13.1 million. There are currently nearly 39 million outstanding shares, according to the filing. They are traded on the OTCQB Marketplace under the “IVOB” symbol and are priced at $0.30 per share.

The company priced the shares at up to $0.32 per share. INVO Bioscience said in the filing that it will not receive any proceeds from the offering, and that selling stockholders will receive all net proceeds from the sale of their shares.

The company launched its INVOcell device in 2016 to incubate eggs and sperm during fertilization during early embryo development. It operates within a woman’s body, unlike in vitro fertilization, which takes place in a laboratory.

In November 2018, the company announced that INVOcell had enabled a child to be born to a same-sex couple in which both partners were able to carry the baby in separate phases of the pregnancy.