David R. Wells
Effective May 16, 2025, David R. Wells ceased serving as Chief Financial Officer of Envoy Medical, Inc.
Highest-materiality recent filing
Envoy Medical receives Nasdaq extension to November 16, 2026 to cure bid price deficiency
Company received Nasdaq notice granting additional 180-day period until November 16, 2026 to meet $1.00 minimum bid price.
Stockholders approve 6M extra shares for equity plan and 1.2M for ESPP
6,000,000 additional shares authorized under Amended and Restated 2023 Equity Incentive Plan (effective May 12, 2026).
Envoy Medical completes pivotal trial enrollment for fully implanted cochlear implant; raises $30M
Completed enrollment of 56 patients in U.S. pivotal trial for Acclaim cochlear implant; first three patients reach 12-month endpoint.
Envoy Medical appoints Charles McKhann as Class I director and to Compensation Committee
Board size increased from 6 to 7 members; McKhann appointed to Compensation Committee.
Envoy Medical dismisses Grant Thornton, appoints EisnerAmper as auditor for FY2026
Grant Thornton dismissed effective March 25, 2026; EisnerAmper appointed for year ending Dec 31, 2026.
FY2025 net revenue $241k, up from $225k (YoY +$16k). No EPS given.
Envoy Medical regains compliance with Nasdaq listing requirement after MVLS deficiency
Received Nasdaq letter confirming compliance with Listing Rule 5550(b)(2) after MVLS fell below $35M.
Envoy Medical closes $30.0M public offering; milestone-linked warrants could add $48.0M
Gross proceeds $30.0M from 75M shares/pre-funded warrants at $0.40/unit; up to $48M additional if milestone warrants exercised for cash.
Envoy Medical grants CEO 200K and CFO 15K options at $0.53
CEO Brent Lucas received options for 200,000 shares; Interim CFO Robert Potashnick received 15,000 shares.
Envoy Medical extends Meteora warrant expiration to Dec 31, 2026
1,125,499 Shortfall Warrants expiring Dec 31, 2025 extended to Dec 31, 2026.
Envoy Medical files investor presentation; no specific material updates disclosed
Management will use updated investor presentation in meetings; content not fully disclosed in filing.
Stockholders approve warrant and share issuance under securities purchase agreement
At special meeting on Nov 26, 2025, stockholders approved issuance of warrants and related Class A common stock to comply with Nasdaq Listing Rule 5635(d).
Envoy Medical receives Nasdaq deficiency notice for minimum bid price non-compliance
Nasdaq notified Envoy Medical on Nov 19, 2025 that common stock failed minimum $1.00 bid price for 30 consecutive business days.
Envoy Medical eliminates $32M debt, gets FDA approval to expand cochlear implant trial
Extinguished over $32 million in debt, strengthening balance sheet without equity issuance.
Envoy Medical gets Nasdaq extension until Feb 23, 2026 to meet listing requirement
Nasdaq panel grants exception until Feb 23, 2026 to comply with $35M market value listing rule.
Envoy Medical announces up to $16M registered direct offering and warrant sale
Offering includes 3,007,524 shares at $1.33/share for ~$4M upfront; warrants for 9,022,572 shares at $1.33.
Envoy Medical gets FDA nod to expand pivotal Acclaim cochlear implant trial to final stage
FDA approved expansion based on 3-month data from first 10 patients; no SAEs or UADEs reported.
Envoy Medical prices $2.5M registered direct offering at $1.31/share, plus warrants for up to $7.5M
Gross proceeds ~$2.5M from sale of 1,908,402 shares at $1.31/share; close expected Sept 23, 2025.
Envoy Medical receives European patent for cochlear implant technology
European Patent No. 4338791 granted, effective Sept 17, 2025, covering implantable cochlear system with integrated components and lead characterization.
Envoy Medical enters voting/warrant extension deal with 47.8% holder Glen Taylor
Taylor Parties agree to vote shares in favor of Nasdaq listing proposals through Dec 31, 2028.
Envoy Medical faces Nasdaq delisting for failing MVLS requirement
Nasdaq notified Envoy Medical on August 26, 2025 that it failed to regain compliance with the $35M MVLS requirement within a 180-day cure period.
Envoy Medical extinguishes $32M debt for $100k; Glen Taylor resigns from board
Paid $100,000 to satisfy $32,011,552 in principal and accrued interest on three promissory notes held by GAT Funding (Glen Taylor).
Envoy Medical reports Q2 clinical progress, cash $5.3M; CPT codes for Esteem device effective July 1
All 10 Acclaim cochlear implant trial participants activated; no serious adverse events at one-month follow-up.
Envoy Medical amends warrant exercise price to weekly VWAP with $1.50 floor
Amendment No. 3 changes exercise price of 3,209,511 outstanding Shortfall Warrants to weekly VWAP or $1.50 minimum.
Envoy Medical draws remaining $5M from GAT Funding; issues warrant for 750K shares at $1.48
Drew $5M remaining principal under March 2025 note from GAT Funding, controlled by board member Glen Taylor.
Envoy Medical appoints Robert Potashnick as Interim CFO effective June 23, 2025
Robert Potashnick appointed Interim CFO via consulting agreement with Oasis Business Consulting LLC.
Stockholders approve amendment to 2023 Equity Incentive Plan, releasing 1.5M restricted shares
Amendment removes regulatory-milestone restriction on 1,500,000 shares, making them available for issuance under the 2023 Plan.
Envoy Medical CFO David R. Wells departs; CEO Lucas becomes interim CFO
David R. Wells ceased as CFO effective May 16, 2025, without cause.
Envoy Medical Q1 revenue down $13k; enrolls 10 in pivotal CI trial; secures $10M funding
Net revenues decreased $13k YoY to an undisclosed amount; cash balance $5.3M as of March 31, 2025.
Envoy Medical sets May 28, 2025 annual meeting; stockholder proposals due April 20
Annual Meeting scheduled for May 28, 2025 at 3:00 p.m. CT in Vadnais Heights, Minnesota.
Envoy Medical FY2024 revenue down $91K; clinical trial enrollment advances
Net revenues decreased $91K YoY; cash and equivalents were $5.5M as of Dec 31, 2024.
Envoy Medical obtains $10M promissory note from largest shareholder Glen Taylor
Initial $5M funded on March 11, 2025; up to $10M available in $2.5M tranches over 2 years.
Envoy Medical receives Nasdaq deficiency notice for low market value of listed securities
Nasdaq notified Envoy Medical on Feb 25, 2025 that market value of listed securities fell below $35M for 31 consecutive business days.
Envoy Medical enters $15M at-the-market equity offering with Roth Capital
ATM agreement with Roth Capital Partners for up to $15M of Class A common stock.
Envoy Medical extends Shortfall Warrants expiration to Dec 31, 2025
Amendment extends expiration date of warrants from Dec 31, 2024 to Dec 31, 2025.
Sponsor Anzu waives $3,733,333 in accrued dividends on Series A Preferred Stock.
Envoy Medical draws $5M from GAT Funding note, issues warrant for 500k shares
Drew $5M under promissory note from GAT Funding (entity controlled by board member Glen Taylor); total principal now $10M.
Envoy Medical stockholders elect directors, ratify auditor at 2024 annual meeting
Michael Crowe and Mona Patel elected as Class I directors; Crowe received 11,146,464 for, Patel 11,047,146 for.
Envoy Medical Q3 revenue falls to $56K; FDA OKs pivotal trial for Acclaim CI
Net revenues $56K for Q3 2024, down 30% from $80K in Q3 2023; nine-month revenues $183K, down 17%.
Envoy Medical sets Nov 14, 2024 annual meeting; proposal deadline Sept 20
Annual Meeting set for Nov 14, 2024 at 3:00 p.m. CT in Minneapolis, MN.
Envoy Medical secures $10M lending facility from majority shareholder Glen Taylor; draws $5M
Unsecured Note with 8% interest, 5-year term; interest deferred for first 2 years.
Envoy Medical Q2 revenue $68k, cash $1.7M; Acclaim CI pivotal trial goal by end-2024
Revenue $68k (Q2 2024) vs $63k prior year; revenue from two Esteem units offset by battery sales decline.
Amendment sets $2.00 floor for 1,000,000 Shortfall Warrants and $3.00 for another 1,000,000; remaining 1,874,394 warrants keep $4.00 floor.
Senate bill S.4829 (Hearing Device Coverage Clarification Act) introduced July 29 by Klobuchar (D-MN) and Lankford (R-OK).
Envoy Medical draws $2.5M from GAT Funding note, issues warrant for 250K shares
Drew $2.5M under existing note from GAT Funding, aggregate principal now $10M.
Envoy Medical issues updated investor presentation for July 2024
Presentation includes forward-looking statements and risk factors; see Page 2.
Envoy Medical extends warrant expiration by 6 months to Dec 31, 2024
Amendment extends 3,874,394 Shortfall Warrants expiry from June 30 to Dec 31, 2024.
Envoy Medical: Dr. Haring-Smith resigns from board; Michael Crowe appointed
Dr. Whitney Haring-Smith resigned effective June 6, 2024; no disagreement.
Envoy Medical draws $2.5M under note from GAT Funding; issues warrant for 250K shares
Drew $2.5M from GAT Funding LLC (controlled by director Glen Taylor); aggregate $7.5M of $10M max.
Envoy Medical Q1 revenue $59K, down from $78K; draws $5M from $10M Glen Taylor loan
Revenue $59K for Q1 2024 vs $78K in Q1 2023; decrease due to fewer battery replacement requests.
Effective May 16, 2025, David R. Wells ceased serving as Chief Financial Officer of Envoy Medical, Inc.
The Company’s Chief Executive Officer, Brent T. Lucas, will serve as principal financial officer on an interim basis until a successor Chief Financial Officer is appointed.
On June 7, 2024, the Board appointed Michael Crowe to fill the vacancy created by Dr. Haring-Smith’s resignation.
On June 6, 2024, Dr. Whitney Haring-Smith, notified the Company of his decision to resign from the board of directors of the Company (the “Board”) effective immediately.
Max materiality 0.85 · Median 0.60 · Most common event other_material