Envoy Medical obtains $10M promissory note from largest shareholder Glen Taylor

Envoy Medical, Inc.

Initial $5M funded on March 11, 2025; up to $10M available in $2.5M tranches over 2 years.
8.0% interest rate, deferred and compounding for first 2 years; 5-year term matures March 6, 2030.
Commitment fee: 375,000 warrants per $2.5M tranche; initial 750,000 warrants at $1.35/share exercise price.
Funds will support Acclaim cochlear implant pivotal clinical trial and general operations.
Glen Taylor is board member and controlling stockholder; facility unsecured with no conversion feature.

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