Zivo Bioscience, Inc., a Nevada-based biotechnology company, has announced the sale of 169,022 shares of its common stock to a number of accredited investors. The transactions occurred between August 22, 2024, and Thursday, October 17, 2024, with shares sold at prices ranging from $8.34 to $16.31 and an average price of $10.44 per share.
According to the company's recent SEC filing, the sales to related parties accounted for 52,802 shares, which were sold at prices between $8.34 and $15.96, averaging $9.68 per share. The company emphasized that the sales were made without any public solicitation and that no underwriting discounts were offered.
The sales were conducted under the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D (Rule 506), which allows for sales of securities without a public offering. Zivo Bioscience has confirmed that following these transactions, the total number of common stock shares outstanding for the company is 3,535,134.
Zivo Bioscience, known previously as Health Enhancement Products Inc. and Western Glory Hole Inc., operates within the biological products industry excluding diagnostic substances. The company's shares are traded on the OTCQB with the ticker symbol ZIVO, and its warrants on the OTC Pink Sheets under the symbol ZIVOW.
The company's filing provides a glimpse into its capital-raising activities, which are a vital aspect of growth and development for firms in the biotech sector. The sale of equity securities to accredited investors is a common practice for companies seeking to finance their operations without resorting to traditional public offerings.
InvestingPro Insights
Zivo Bioscience's recent stock sale to accredited investors aligns with its current financial position and market performance. According to InvestingPro data, the company's market capitalization stands at $69.81 million, reflecting its small-cap status in the biotech sector. Despite its modest size, Zivo has shown remarkable growth, with a staggering 1,364.69% revenue growth in the last twelve months as of Q2 2024.
InvestingPro Tips highlight that Zivo is a niche player in its industry and has experienced a strong return over the last month, with a 40.79% price total return. This recent performance may have contributed to the company's ability to attract investors in its latest stock sale. Additionally, the stock has shown a significant 417.32% price total return over the past year, indicating substantial investor interest.
However, potential investors should note that Zivo operates with a moderate level of debt and was not profitable over the last twelve months. The company's operating income margin stands at -21,871.9%, underscoring the challenges it faces in achieving profitability—a common scenario for developing biotech firms.
For those interested in a deeper analysis, InvestingPro offers 12 additional tips for Zivo Bioscience, providing a more comprehensive view of the company's financial health and market position.
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