Envoy Medical Announces Closing of $2.5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

About this update from Envoy Medical, Inc.

[{"type":"text","content":"White Bear Lake, Minnesota--(Newsfile Corp. - September 25, 2025) - Envoy Medical® Inc. (NASDAQ: COCH) ("Envoy Medical"), a hearing health company focused on developing innovative, fully implanted hearing solutions, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules of 1,908,402 shares of its Class A common stock at a purchase price of $1.31 per share of Class A common stock. In addition, in a concurrent private placement, Envoy Medical issued and sold unregistered warrants to purchase up to 5,725,206 shares of Class A common stock. The unregistered warrants have an exercise price of $1.31 per share of Class A common stock, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares of Class A common stock upon exercise of the unregistered warrants (the "Stockholder Approval") and will expire twenty-four months following the date of the Stockholder Approval.","length":1008,"tagName":"p"},{"type":"text","content":"H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.","length":82,"tagName":"p"},{"type":"text","content":"The offering closed on September 23, 2025. The gross proceeds to Envoy Medical from the offering were approximately $2.5 million, before deducting the placement agent's fees and other offering expenses payable by Envoy Medical. Envoy Medical intends to use the net proceeds from the offering for working capital and other general corporate purposes. In addition, if the holders of the unregistered warrants exercise such warrants in full in cash following the Stockholder Approval, the Company would receive additional gross proceeds of approximately $7.5 million. The Company cannot predict when or if the unregistered warrants will be exercised for cash or exercised at all. It is possible that the unregistered warrants may expire and may never be exercised.","length":765,"tagName":"p"},{"type":"text","content":"The Class A common stock offered in the registered direct offering (but not the unregistered warrants issued in the concurrent private placement or the shares issuable upon exercise of such unregistered warrants) was offered pursuant to a shelf registration statement on Form S-3 (File No. 333-282474) previously filed and declared effective by th...

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