InVivo Therapeutics Announces Pricing of $13.2 Million Underwritten Public Offering

InVivo Therapeutics Holdings Corp. (NVIV) today announced the
pricing of an underwritten public offering of 388,403 shares of its
common stock, together with warrants to purchase 388,403 shares of
common stock at a combined price to the public of $2.00 per share and
warrant, as well as pre-funded warrants to purchase up to an aggregate
of 6,242,811 shares of common stock together with warrants to purchase
6,242,811 shares of common stock, at a combined price to the public of
$1.99 per pre-funded warrant and warrant. The gross proceeds from this
offering are expected to be $13.2 million, before deducting the
underwriting discounts and commissions and estimated offering expenses
payable by InVivo Therapeutics.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE American:LTS), is the sole book-running
manager in connection with the offering.

Each warrant has an exercise price of $2.00 per share, is exercisable
immediately and expires five years from the date of issuance. Each
pre-funded warrant has an exercise price of $0.01 per share, is
exercisable immediately and will expire twenty years from the date of
issuance. The pre-funded warrants issued in the offering include a
beneficial ownership blocker and the holders do not have the rights or
privileges of holders of common stock, including any voting rights,
until they exercise the pre-funded warrants. As of June 20, 2018, InVivo
Therapeutics had 1,648,349 shares of common stock outstanding. The
exercise price of the warrants and the pre-funded warrants is fixed and
they do not contain any variable pricing features or any price based
anti-dilutive features. The offering is expected to close on or about
June 25, 2018, subject to customary closing conditions.

A registration statement (File No. 333-224424) relating to these
securities has been filed with the Securities and Exchange Commission,
or the SEC, and was declared effective by the SEC on June 20, 2018 and
an additional registration statement filed pursuant to Rule 462(b) (File
No. 333-225768), which became effective when filed. The offering will be
made only by means of a prospectus, which is part of the effective
registration statement. When available, copies of the final prospectus
may be obtained from Ladenburg Thalmann & Co. Inc., Prospectus
Department, 277 Park Avenue, 26th Floor, New York, New York
10172, by calling (212) 409-2000.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or other
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 other jurisdiction.

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is a research and clinical-stage
biomaterials and biotechnology company with a focus on treatment of
spinal cord injuries. The company was founded in 2005 with proprietary
technology co-invented by Robert Langer, Sc.D., Professor at
Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who
then was at Boston Children’s Hospital and who now is affiliated with
Massachusetts General Hospital. In January 2018, the company announced
updated clinical evidence, including improvements in patients with acute
spinal cord injury (SCI), from its INSPIRE study of the Neuro-Spinal
Scaffold™. The publicly traded company is headquartered in Cambridge,
MA. For more details, visit www.invivotherapeutics.com.

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