Vivani Medical prices stock offering at $1.48 per share

Vivani Medical, Inc. (NASDAQ: VANI) announced the pricing of a registered direct offering of 1,689,200 shares of common stock at $1.48 per share. The company also priced a concurrent private placement of 1,351,351 shares at the same price, purchased by Gregg Williams, chairman of the company's board of directors.

The combined offerings are expected to generate gross proceeds of approximately $4.5 million before deducting placement agent fees and estimated offering expenses. Both the registered offering and private placement were priced at-the-market under Nasdaq Stock Market rules and are expected to close on or about January 27, 2026, subject to customary closing conditions.

Vivani intends to use the net proceeds to fund ongoing research and clinical development of its product candidates, as well as for working capital and general corporate purposes. The company develops biopharmaceutical implants using its NanoPortal platform, designed to deliver drug molecules over extended periods.

ThinkEquity is serving as sole placement agent for the registered direct offering. The securities were offered pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on April 22, 2024, and declared effective on May 3, 2024.

The Alameda, California-based clinical-stage biopharmaceutical company focuses on developing miniature, ultra long-acting drug implants and is currently developing a portfolio of GLP-1 based implants for metabolic diseases including obesity and type 2 diabetes.

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