Vapotherm Announces Pricing of Public Offering of Common Stock

EXETER, N.H.–(BUSINESS WIRE)–Vapotherm, Inc. (NYSE: VAPO) (“Vapotherm”), a global medical technology company focused on the development and commercialization of its proprietary Hi-VNI® Technology products that are used to treat patients of all ages suffering from respiratory distress, announced today the pricing of its public offering of 3,105,000 shares of its common stock at a price to the public of $14.50 per share. All of the shares will be offered by Vapotherm. In addition, Vapotherm has granted the underwriters a 30-day option to purchase up to an additional 465,750 shares of its common stock at the public offering price less underwriting discounts and commissions. The offering is expected to close on August 6, 2019, subject to customary closing conditions.

BofA Merrill Lynch and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager and BTIG is acting as co-manager.

The offering is being made only by means of a prospectus, copies of which may be obtained from BofA Merrill Lynch, Attention: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or via email at dg.prospectus_requests@baml.com, or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; via telephone at (800) 621-0687 or via email at prospectus@williamblair.com.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on August 1, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Vapotherm

Vapotherm, Inc. is a publicly traded developer and manufacturer of advanced respiratory technology based in Exeter, New Hampshire, USA. The Company develops innovative, comfortable, non-invasive technologies for respiratory support of patients with chronic or acute breathing disorders. Over 1.9 million patients have been treated with Vapotherm Hi-VNI Technology. Hi-VNI Technology is mask-free noninvasive ventilatory support for spontaneously breathing patients and is a front-line tool for relieving respiratory distress—including hypercapnia, hypoxemia, and dyspnea. It allows for the fast, safe treatment of undifferentiated respiratory distress with one tool. Hi-VNI Technology’s mask-free interface delivers optimally conditioned breathing gases, making it comfortable for patients and reducing the risks associated with mask therapies. While being treated, patients can talk, eat, drink and take oral medication.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about the terms of the offering. In some cases, you can identify forward-looking statements by terms such as “expect, ” “guide” or “typically” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include, but are not limited to risks and uncertainties associated with the consummation of the offering and general economic conditions and the other risks and uncertainties included under the heading “Risk Factors” in Vapotherm’s Annual Report on Form 10-K for the fiscal year ended December, 31, 2018, as filed with the Securities and Exchange Commission on March 22, 2019, under the heading “Risk Factors” included in the preliminary prospectus related to the public offering filed with the Securities and Exchange Commission and in any subsequent filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release reflect Vapotherm’s views as of the date hereof, and Vapotherm does not assume and specifically disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Investor Relations Contact: Mark Klausner or Mike Vallie, Westwicke, an ICR Company, ir@vtherm.com, +1-(603)-658-0011