Business
Envoy Medical Appoints David R. Wells as Chief Financial Officer
Adds Experienced Financial and Equity Capital Markets Leader as Company Readies for Nasdaq Listing White Bear Lake, Minnesota--(Newsfile Corp. - August 24,
About this update from Envoy Medical, Inc.
[{"type":"text","content":"Adds Experienced Financial and Equity Capital Markets Leader as Company Readies for Nasdaq Listing\nWhite Bear Lake, Minnesota--(Newsfile Corp. - August 24, 2023) - Envoy Medical® Corporation, a hearing health company, today announced the appointment of industry veteran David R. Wells as Chief Financial Officer. With more than 35 years of experience in corporate finance, the last 18 as CFO of publicly traded companies, Mr. Wells brings a wealth of experience to Envoy Medical, including public offerings and equity capital markets leadership.\nEnvoy Medical is set to merge with Anzu Special Acquisition Corp I (\"Anzu\") (NASDAQ: ANZU) (NASDAQ: ANZUU) (NASDAQ: ANZUWS) in a transaction expected to close in September 2023.\n\"I am excited to join the Envoy Medical team and look forward to leveraging my experience as we ready for our Nasdaq listing through our merger with Anzu's special purpose acquisition vehicle,\" said Wells. \"Envoy Medical's incredible team has developed what I believe is a game-changing technology for a growing population who can benefit from cochlear implants. I look forward to providing a strong financial foundation as a publicly traded company while the team brings this important new technology through the clinical process towards anticipated regulatory approval.\"\nBrent Lucas, Chief Executive Officer of Envoy Medical since 2015, stated, \"We continue to be driven by the prospect of improving people's lives. We believe we have the fully implanted cochlear implant option hearing loss sufferers have wanted for decades. We are energized by the possibility bringing paradigm-shifting innovation to this multi-billion-dollar market. This is a critical time in the growth of our company, and David brings public company financial management experience as we prepare to enter this exciting new chapter as a Nasdaq listed company. We are thrilled to have his stewardship.\"\nWells was previously CFO of ENDRA Life Sciences, a Nasdaq-listed company and developer of ultrasound technologies, where he led more than $55 million in equity capital raise activities for the company. He was also CFO of Sionix, a publicly traded provider of mobile water treatment systems, as well as Voyant Technologies and PowerHouse Technologies Group. In addition to his experience as a senior financial manager, Wells has founded and grown two compan...