MergerJul 6, 2026, 04:37 PM
ClearOne to Merge with Cortigent, Renaming to Cortigent Holdings
AI Summary
ClearOne, Inc. has entered into a definitive merger agreement with Cortigent, Inc., a wholly-owned subsidiary of Vivani Medical, Inc. Under the terms, Cortigent will become a wholly-owned subsidiary of ClearOne, with Vivani receiving 12,500,000 shares of ClearOne common stock, resulting in Vivani owning 59.4% to 67.5% of the combined entity. ClearOne will be renamed "Cortigent Holdings, Inc." and trade under the ticker "CRGT." The transaction, which includes a planned $10M-$15M financing, is expected to close in Q3 2026, subject to customary closing conditions including stockholder approvals and Nasdaq listing.
Key Highlights
- ClearOne will merge with Cortigent, a Vivani Medical subsidiary, with Cortigent becoming a wholly-owned subsidiary.
- Vivani Medical will receive 12,500,000 shares of ClearOne common stock as merger consideration.
- Vivani is expected to own 59.4% to 67.5% of the combined company post-merger.
- ClearOne will be renamed "Cortigent Holdings, Inc." and trade under the Nasdaq ticker "CRGT".
- The transaction includes a financing round to raise a minimum of $10,000,000 and a maximum of $15,000,000.
- The combined company's board will consist of five members, with Adam Mendelsohn as Chairman.
- Jonathan Adams will serve as President & CEO, and Ed Sedo as CFO of the combined company.
- ClearOne will implement a 12-month equity issuance moratorium following the closing of the merger.
Price Impact
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