secwatch.observer — SEC 8-K summary
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Issuer:     Envoy Medical, Inc. (COCH)
CIK:        0001840877
Form:       8-K
Filed at:   2025-03-12T23:59:59+00:00
Accession:  0001213900-25-022913
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840877/000121390025022913/0001213900-25-022913-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840877/000121390025022913/ea0234061-8k_envoy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-022913

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