Envoy Medical Inc. has announced the closing of its previously upsized public offering, which included the issuance of 75,000,000 shares of its Class A common stock (or pre-funded warrants in lieu thereof), accompanied by Series A-1 and Series A-2 common warrants to purchase up to 45,000,000 and 75,000,000 shares of Class A common stock, respectively. The offering raised approximately $30 million in gross proceeds upfront, with the potential for an additional $48 million if all milestone-linked warrants are exercised for cash. The proceeds will be used to fund operations during the company's FDA pivotal clinical study and extend its cash runway into the second half of 2027, or further if the warrants are fully exercised.

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