---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-25-000438"
form_type: "8-K"
ticker: "VANI"
cik: "0001266806"
company_name: "Vivani Medical, Inc."
filed_at: "2025-03-13T23:59:59+00:00"
generated_at: "2026-05-24T20:23:22.265471+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vivani plans Cortigent spin-off, reports $18.4M cash; LIBERATE-1 trial fully enrolled with first implant

## Summary
- Spin-off of Cortigent into independent public company planned by mid-2025; expects tax-free distribution to Vivani shareholders.
- Cortigent's Orion artificial vision device completed 6-year study; Argus II previously FDA-authorized for blindness.
- LIBERATE-1 trial of GLP-1 implant NPM-115: first implant administered, all 24 subjects enrolled in 4 weeks; top-line data expected mid-2025.
- Preliminary cash and cash equivalents (excluding restricted) as of Dec 31, 2024: $18.4M (unaudited).
- ThinkEquity LLC acting as financial advisor to Cortigent for spin-off.

## SEC filing metadata
- accession: 0001753926-25-000438
- form_type: 8-K
- ticker: VANI
- cik: 0001266806
- company_name: Vivani Medical, Inc.
- filed_at: 2025-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1266806/000175392625000438/0001753926-25-000438-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1266806/000175392625000438/vani-20250313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-25-000438
- JSON: https://secwatch.observer/filing/0001753926-25-000438.json
- Plain text: https://secwatch.observer/filing/0001753926-25-000438.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.