Envoy Medical secures $10M lending facility from majority shareholder Glen Taylor; draws $5M

Envoy Medical, Inc.

Unsecured Note with 8% interest, 5-year term; interest deferred for first 2 years.
Initial draw of $5M; issued warrants for 500,000 shares at $2.97 per share.
Funds to support Acclaim fully implanted cochlear implant IDE and pivotal study.
Glen Taylor is a director and controlling stockholder; facility is non-convertible.
Up to $10M available in $2.5M tranches; no prepayment penalty.

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