Vivani Announces Entry into Merger Agreement Between Wholly Owned Subsidiary Cortigent, Inc. and Nasdaq-listed ClearOne, Inc.
ClearOne has entered into a definitive agreement to merge with Vivani Medical’s subsidiary Cortigent, a developer of brain-computer interface devices. Vivani will receive 12.5 million shares of ClearOne common stock as consideration, giving it a majority ownership stake of 59.4% to 67.5%, while existing ClearOne shareholders will retain 12.7% to 14.4%. The combined company will rename to Cortigent Holdings, Inc.
Key figures
- Financing amount
- $10,000,000 - $15,000,000
- Consideration shares
- 12500000
- Vivani ownership expected
- 59.4% - 67.5%
- Clro shareholder ownership expected
- 12.7% - 14.4%
AI analysis
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