other material
confidence high
sentiment neutral
materiality 0.80
Envoy Medical enters Conversion and Waiver Agreement with sponsor, modifying preferred stock terms and converting shares
Envoy Medical, Inc.
- Sponsor Anzu waives $3,733,333 in accrued dividends on Series A Preferred Stock.
- Envoy waives vesting restrictions on 1,000,000 restricted shares held by Anzu.
- Conversion price on Preferred Stock temporarily reduced from $11.50 to $3.63 per share through Jan 20, 2025.
- Anzu converts 373,333 Preferred Stock shares into 1,028,986 shares of common stock.
- Agreement executed December 20, 2024, closing same day.