---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-019277"
form_type: "8-K"
ticker: "COCH"
cik: "0001840877"
company_name: "Envoy Medical, Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:59:37.736730+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Envoy Medical secures up to $10M debt from Glen Taylor for Acclaim cochlear implant trial

## Summary
- Up to $10M five-year unsecured facility from board member/controlling stockholder Glen Taylor; initial draw of $5M.
- 8% interest, compounding first two years; warrants for 500k shares at $1.24/share issued for initial draw.
- Proceeds will fund US pivotal clinical trial for fully implanted Acclaim cochlear implant (FDA Breakthrough Designation).
- Interest accrues first two years, paid quarterly thereafter; no conversion rights.
- Remaining $5M available in $2.5M tranches until February 2029 upon meeting conditions.

## SEC filing metadata
- accession: 0001213900-24-019277
- form_type: 8-K
- ticker: COCH
- cik: 0001840877
- company_name: Envoy Medical, Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840877/000121390024019277/0001213900-24-019277-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840877/000121390024019277/ea0201093-8k_envoy.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-019277
- JSON: https://secwatch.observer/filing/0001213900-24-019277.json
- Plain text: https://secwatch.observer/filing/0001213900-24-019277.txt

## Key facts
- Debt Financings
  Envoy Medical, Inc. incurred loan of up to $10,000,000 with GAT Funding, LLC at 8.0% per annum maturing 2029-02-27.
  - Instrument: loan
  - Principal: up to $10,000,000
  - Counterparty: GAT Funding, LLC
  - Rate: 8.0% per annum
  - Maturity: 2029-02-27
  - Event: incurrence
  source text: a Material Definitive Agreement Envoy Medical, Inc. (the “Company”) has issued a promissory note, effective as of February 27, 2024 (the “Note”) with a principal amount of up to $10,000,000 to GAT Funding, LLC (“GAT”), an entity controlled by Glen Taylor, who is a member of the Company’s board of directors and controlling stockholder of the Company. Upon meeting
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840877/000121390024019277/0001213900-24-019277-index.htm
- Material Agreements
  Envoy Medical, Inc. entered into Note with GAT Funding, LLC valued at principal amount of up to $10,000,000 (effective 2024-02-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: GAT Funding, LLC
  - Value: principal amount of up to $10,000,000
  - Effective: 2024-02-27
  source text: Envoy Medical, Inc. (the “Company”) has issued a promissory note, effective as of February 27, 2024 (the “Note”) with a principal amount of up to $10,000,000 to GAT Funding, LLC (“GAT”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840877/000121390024019277/0001213900-24-019277-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.