Envoy Medical raises $4 million in registered direct offering

Envoy Medical Inc. (NASDAQ: COCH) announced it entered into definitive agreements for a registered direct offering of 3,007,524 shares of Class A common stock at $1.33 per share, generating approximately $4 million in gross proceeds before fees and expenses.

The hearing health company also issued unregistered warrants to purchase up to 9,022,572 shares at an exercise price of $1.33 per share in a concurrent private placement. The warrants are exercisable immediately and expire twenty-four months following the effective date of a registration statement covering the warrant shares.

If fully exercised, the warrants could generate an additional $12 million in gross proceeds, though the company noted no assurance can be given that the warrants will be exercised.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering, which is expected to close on or about October 9, 2025, subject to customary closing conditions.

The company stated it intends to use net proceeds for working capital and general corporate purposes.

The registered direct offering is being conducted under a shelf registration statement previously filed with the Securities and Exchange Commission and declared effective on October 21, 2024.

White Bear Lake, Minnesota-based Envoy Medical develops fully implanted hearing solutions, including its Esteem active middle ear implant, commercially available in the U.S. since 2010, and the investigational Acclaim cochlear implant.

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