secwatch.observer — SEC 8-K summary
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Issuer:     Envoy Medical, Inc. (COCH)
CIK:        0001840877
Form:       8-K
Filed at:   2024-08-28T23:59:59+00:00
Accession:  0001213900-24-073129
Event type: debt
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840877/000121390024073129/0001213900-24-073129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840877/000121390024073129/ea0212623-8k_envoy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-073129

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer