Vivos Therapeutics (VVOS) entered a deal with its senior, secured lender, Streeterville Capital to exchange up to $4.5 million of its outstanding debt for a combination of perpetual, nonconvertible preferred stock and shares, the company said Friday.

The agreement includes commitments by Streeterville to suspend any calls for repayment of its debt and any sales of company securities for 90 and 60 days, respectively, from the date the deal becomes effective, the company said.

The conversion of Streeterville's debt into equity is meant to advance shareholders' positions and comply with Nasdaq listing standards, the company said.

Shares of the company were up 5.1% in recent premarket activity.