Envoy Medical Extinguishes over $32 Million in Debt, Strengthening Balance Sheet; Announces Retirement of Glen A. Taylor from Board

About this update from Envoy Medical, Inc.

[{"type":"text","content":"Extinguishment simplifies capital structure, strengthens foundation for growth, and eliminates all term loan obligations, without equity conversion","length":147,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"White Bear Lake, Minnesota--(Newsfile Corp. - August 26, 2025) - Envoy Medical® Inc. (NASDAQ: COCH) ("Envoy Medical" or the "Company"), a hearing health company pioneering fully implanted hearing solutions, today announced it has satisfied and extinguished the outstanding term loans from GAT Funding, LLC, which totaled $32 million in outstanding principal and accrued interest, in exchange for a payment of $100,000 in cash.","length":446,"tagName":"p"},{"type":"text","content":"GAT Funding is owned by Glen A. Taylor, who also announced his retirement from the Envoy Medical board after two decades of service to the Company.","length":147,"tagName":"p"},{"type":"text","content":""On behalf of the Envoy Medical board, we want to thank Glen Taylor for his years of service and his tremendous support of Envoy Medical over the years. With the extinguishment of the term loans, Envoy Medical has reset its balance sheet and we are now positioned to devote our capital resources to the continued development of our lead product candidate, the investigational Acclaim® cochlear implant," stated Brent Lucas, Chief Executive Officer of Envoy Medical. "Our mission is to transform the hearing industry with groundbreaking, fully implanted technologies. With a stronger financial foundation, we are better equipped to deliver on that mission. We are deeply grateful for Glen Taylor's unwavering belief in the Company—our fully implanted cochlear implant would not have been possible without his steadfast support."","length":851,"tagName":"p"},{"type":"text","content":"Envoy Medical's outgoing Chairman Emeritus, Glen Taylor, commented, "It has been an honor to serve Envoy Medical and support its mission over nearly two decades. With the strong momentum in the Company's pivotal clinical trial and the Company's now improved financial position, I am retiring from the Envoy Medical board with great confidence in its future. I look forward to seeing all that Envoy Medical's talented and passionate team will accomplish."","length":480,"tagName":...

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