ClearOne, Inc. (Nasdaq: CLRO) has entered into a definitive merger agreement to acquire Cortigent, Inc., a wholly-owned subsidiary of Vivani Medical, Inc. (Nasdaq: VANI), according to a press release from the company.

Under the terms of the agreement, Cortigent will become a wholly-owned subsidiary of ClearOne. As consideration, Vivani will receive 12,500,000 shares of ClearOne common stock. Upon closing, Vivani is expected to own between 59.4% and 67.5% of the combined company, while existing ClearOne shareholders would own between 12.7% and 14.4%.

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, concurrently with the closing of the transaction. Following the deal, ClearOne is expected to be renamed "Cortigent Holdings, Inc." and trade on Nasdaq under the ticker symbol "CRGT."

Cortigent develops brain implant devices using precision neurostimulation technology aimed at helping patients recover sight and motor function. The company's Orion cortical stimulation system has received FDA Breakthrough Device Designation and completed a six-year early feasibility study in 2025. Cortigent's predecessor, Second Sight Medical Products, previously marketed the Argus II, which received FDA approval to treat a rare form of blindness.

The transaction was unanimously approved by the boards of directors of both companies and is expected to close in the third quarter of 2026, subject to stockholder approvals, closing of the financing, and continued Nasdaq listing. ThinkEquity acted as sole financial advisor to the transaction.

ClearOne recently divested its former conferencing, collaboration, and network streaming business prior to this announcement.