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ClearOne Announces Entry into Merger Agreement with Cortigent, Inc., a Wholly-Owned Subsidiary of Vivani Medical
SALT LAKE CITY, July 02, 2026--ClearOne, Inc. (Nasdaq: CLRO) ("ClearOne") announced today that it has entered into a definitive agreement and plan of merger (the "Agreement") among its wholly-owned subsidiary ("MergerSub"), Vivani Medical, Inc. (Nasdaq: VANI; "Vivani"), and Cortigent, Inc. ("Cortigent"), a wholly-owned subsidiary of Vivani, pursuant to which Cortigent will become a wholly-owned subsidiary of ClearOne (the "Transaction") upon consummation.
About this update from Clearone, Inc.
SALT LAKE CITY, July 02, 2026--(BUSINESS WIRE)--ClearOne, Inc. (Nasdaq: CLRO) ("ClearOne") announced today that it has entered into a definitive agreement and plan of merger (the "Agreement") among its wholly-owned subsidiary ("MergerSub"), Vivani Medical, Inc. (Nasdaq: VANI; "Vivani"), and Cortigent, Inc. ("Cortigent"), a wholly-owned subsidiary of Vivani, pursuant to which Cortigent will become a wholly-owned subsidiary of ClearOne (the "Transaction") upon consummation. In connection with the Transaction, ClearOne has agreed to file a registration statement on Form S-1 to raise a minimum of $10,000,000 and a maximum of $15,000,000 (the "Financing") concurrently with the closing of the Transaction (the "Closing"). "I am excited to announce this transaction. In my view, Cortigent's mission, to help patients recover sight and motor function through precision neurostimulation, is compelling given both the technical outlook for their neurostimulation technology and the significant unmet market needs that this technology seeks to address. I am proud that our company emerged as the best path forward to enable the next steps in that mission. We anticipate that the planned financing will give the combined company a strong foundation to move its pipeline forward. This was a unanimous decision by our board of directors, and we believe this transaction represents an important step for our shareholders, for Cortigent's team, and for the patients whose lives this technology has the potential to transform," said Eric Robinson, Chairman of ClearOne's Board of Directors. About Cortigent, Inc. Cortigent, Inc. is developing brain implant devices to help patients recover critical body functions. Cortigent's patent-protected precision neurostimulation technology platform leverages neuroscience and proprietary microelectronics to create advanced medical devices. Cortigent's predecessor, Second Sight Medical Products, previously marketed the Argus® II, the first and only medical device to obtain FDA approval to treat a rare form of blindness. This innovative device helped hundreds of profoundly blind patients to achieve meaningful visual perception. Cortigent's next generation investigational system, the Orion® cortical stimulation system, has been designed to treat blindness caused by common conditions including glaucoma and diabetic retinopathy. Orion has been awarded an FD...