Vivani to merge Cortigent unit with ClearOne in Nasdaq deal

Vivani Medical, Inc. (NASDAQ: VANI) has entered into a definitive merger agreement to combine its wholly owned subsidiary Cortigent, Inc. with ClearOne, Inc. (NASDAQ: CLRO), a Nasdaq-listed company, according to a statement released July 2, 2026.

Under the terms of the agreement, Cortigent will merge with a wholly owned subsidiary of ClearOne, making Cortigent a wholly owned subsidiary of ClearOne upon closing. Vivani will receive 12,500,000 shares of ClearOne common stock as consideration and is expected to own between 59.4% and 67.5% of the combined company. Former ClearOne shareholders are expected to hold between 12.7% and 14.4% of the combined entity.

ClearOne is expected to be renamed Cortigent Holdings, Inc. and trade on Nasdaq under the ticker symbol "CRGT" following the close of the transaction.

In connection with the merger, ClearOne has agreed to file a registration statement on Form S-1 to raise between $10,000,000 and $15,000,000, with the financing set to close concurrently with the transaction.

The boards of directors of both Vivani and ClearOne have unanimously approved the transaction, which is expected to close in the third quarter of 2026. Closing remains subject to stockholder approvals, completion of the financing, minimum net cash requirements, and continued Nasdaq listing of the combined company.

Cortigent develops brain implant devices using neurostimulation technology. Its Orion cortical stimulation system, which targets blindness caused by conditions including glaucoma and diabetic retinopathy, completed a six-year early feasibility study in 2025 and holds an FDA Breakthrough Device Designation. The company is also developing technology aimed at improving arm and hand recovery in stroke patients with partial paralysis.

Vivani CEO Adam Mendelsohn stated the transaction is expected to reduce Vivani's direct expenditures related to Cortigent and allow the company to focus on its portfolio of miniature, ultra long-acting drug implants. ThinkEquity acted as sole financial advisor to Vivani for the transaction.

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