Vivos Therapeutics (VVOS) said Thursday it plans to file a registration statement with the US Securities and Exchange Commission for a proposed rights offering that would give existing shareholders the opportunity to buy additional shares.

Under the proposal, the company said shareholders would receive transferable subscription rights as a dividend if the SEC declares the registration statement effective.

The record date would be set 30 days after the registration statement becomes effective, the company added.

Vivos Therapeutics said each right is expected to allow holders to purchase one Vivos share at the greater of $1.25 per share or a 20% premium to the market price on the day before the record date.

The rights would be tradable and remain valid for nine months, the company said, adding that shareholders who exercise their rights would also receive a second tradable right, valid for nine months, to buy additional shares at the greater of $1.75 per share or a 40% premium to the market price on the day before the record date.

Vivos said final terms, including the record date and distribution ratio, will be announced if the registration statement becomes effective.