Stock of the Day

April 7, 2022

Venus Concept (VERO)

$0.31
$0.00 (0.0%)
Market Cap: $0.44M

About Venus Concept

Venus Concept Inc., a medical technology company, develops, commercializes, and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies, and related services in the United States and internationally. Its product portfolio includes Venus Legacy, a noninvasive device used in dermatological and general surgical procedures for females; Venus Versa, a multi-application device used in aesthetic and cosmetic procedures; Venus Versa Pro; and Venus Viva and Venus Viva MD, an advanced, portable, and fractional RF system for dermatological procedures requiring ablation and resurfacing of the skin. The company also offers Venus Fiore, a device that delivers non-thermal RF with massage and magnetic field pulses to treat various medical conditions; Venus Bliss and Venus Bliss Max for non-invasive lipolysis of the abdomen, back, thights, and flanks in individuals with a body mass index of 30 or less; Venus Glow, a dermabrasion device used to improve skin appearance; and NeoGraft, an advanced hair restoration technology with an automated FUE and implantation system. In addition, it provides Venus Velocity and Venus Epileve for hair removal, permanent hair reduction, and treatment of pseudofolliculitis barbae; ARTAS iX, a robotic system to assist physicians in identifying and extracting hair follicles units from the scalp during hair transplantation, creating recipient sites, and implanting the harvested hair follicles; and AI.ME an interactive, image-guided, and computer assisted system for fractional skin resurfacing. The company is headquartered in Toronto, Canada.

Today's Trend

Company: Venus Concept Inc. (NASDAQ: VERO)

The shares of Venus Concept have risen after the company announced a strategic sale of its Venus Hair business and a concurrent registered direct offering. Investors reacted positively to the strengthened balance sheet and renewed focus on core medical aesthetics operations.

  • Definitive agreement to sell Venus Hair business to Meta Healthcare Group for $20 million in cash, enhancing the balance sheet and funding growth initiatives
  • Registered direct offering priced at-the-market to raise up to $3.45 million, with $1.15 million in immediate proceeds
  • Unregistered short-term warrants issued alongside the offering could generate up to $2.3 million in additional proceeds if fully exercised
  • Agreements to purchase and sell shares at $2.65 per share aimed at bolstering liquidity under Nasdaq rules
  • Sale of the hair business eliminates about $12.5 million in annual revenue and may narrow the company’s revenue base

Overall, the combination of cash proceeds from the sale and offering is expected to improve Venus Concept’s financial flexibility and support its strategic pivot toward higher-margin medical aesthetic technologies.

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