Vivos Therapeutics (VVOS) 10% Owner Michael Skaff Buys $3.2M in Preferred

What Happened

• Michael C. Skaff (reported as a 10% owner; Managing Director of SP Manager LLC) reported purchases of convertible preferred stock in Vivos Therapeutics (VVOS). The Form 4 shows three acquisitions on June 30, 2026, each reported as a purchase (code P) of derivative securities:
  • 859,166 shares at $0.58 each for $500,035
  • 1,890,164 shares at $0.58 each for $1,100,075
  • 2,749,330 shares at $0.58 each for $1,600,110
  • Total acquired: 5,498,660 shares; total value reported: $3,200,220.
• These shares are Series A convertible preferred (derivative securities), not common stock; purchases were the result of a conversion transaction (see Key Details).

Key Details

• Transaction date: June 30, 2026; Report filed: July 15, 2026 (late filing).
• Reported price per share: $0.58 (total value ≈ $3.2M).
• Shares acquired: 5,498,660 Series A convertible preferred shares (derivative).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: The preferred shares are convertible at the holder’s election, have no expiration, and are subject to a beneficial ownership limit.
  • F2: Skaff is Managing Director of SP Manager LLC (manager of V‑Co Investors 4 LLC) and disclaims beneficial ownership except to the extent of pecuniary interest.
  • F3: V‑Co Investors 4 LLC converted a $1,000,000 bridge promissory note into Series A convertible preferred stock on June 30, 2026, using an effective conversion basis of $0.456 per share plus $0.125 per share (in line with Nasdaq minimum-price rules) — resulting in the reported issuance.
• Timeliness: The Form 4 was filed 15 days after the transaction date (appears late); late filings reduce the timeliness of disclosure and can attract SEC scrutiny or penalties.

Context

• These were purchases/issuances of convertible preferred stock (derivative) rather than direct purchases of common shares. Convertible preferred can later convert into common stock at the holder’s election, subject to limitations noted in the filing.
• As a reported 10% owner and manager of the investing LLC, Skaff’s filing reflects an institutional/managerial interest via V‑Co Investors 4 LLC and SP Manager LLC; the filing includes a disclaimer that Skaff and SP Manager LLC disclaim beneficial ownership except for pecuniary interest.