WHITE BEAR LAKE, MINNESOTA — Envoy Medical® Corporation today announced that the proposed merger with Anzu Special Acquisition Corp I (NASDAQ: ANZU) (NASDAQ: ANZUU) (NASDAQ: ANZUW) was approved by a vote of Envoy Medical shareholders in a special meeting held September 28, 2023. The vote follows the announcement of approval by Anzu shareholders on September 27, 2023.
The business combination was originally signed in April 2023.
“We are excited and humbled by the overwhelming confidence and show of support exhibited by the affirmative Envoy Medical and Anzu shareholder votes. We continue our steady progress toward disrupting the hearing industry with the first fully implantable cochlear implant. We know how to build fully implanted hearing devices and we look forward to bringing patients an attractive alternative to other solutions once we have met our clinical and regulatory obligations. We believe that our tremendous team, including a top-notch board of directors and an impressive advisory board of key opinion leaders, positions us well to bring our innovative technology to the market.”
–Brent Lucas, Chief Executive Officer of Envoy
“We believe Envoy Medical has the technology and people to deliver a product that can meaningfully change the lives of the millions of people with profound hearing loss,” said Dr. Whitney Haring-Smith, Envoy board member and co-founding managing partner at Anzu Partners, an investment firm focused on industrial technologies and life sciences. “I look forward to working closely with Brent Lucas and the entire team at Envoy Medical to advance their breakthrough hearing health technology.”
The deal is expected to close September 29, 2023, and begin trading on the NASDAQ Capital Market on October 2, 2023 under the symbol COCH.
About Envoy Medical Corporation
Envoy Medical Corporation, headquartered in White Bear Lake, Minnesota, is a privately held hearing health company focused on providing innovative medical technologies across the hearing loss spectrum. Envoy’s technologies are designed to shift the paradigm within the hearing industry and bring both providers and patients the hearing devices they desire.
Envoy is dedicated to pushing hearing technology beyond the status quo to provide patients with improved access, usability, independence and ultimately quality of life.
About the Fully Implanted Acclaim® Cochlear Implant
We believe the fully implanted Acclaim® Cochlear Implant is a first-of-its-kind cochlear implant. Envoy’s fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.
The Acclaim is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim will only be indicated for adults who have been deemed adequate candidates by a qualified physician.
The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019. We believe the Acclaim was the first hearing-focused device to receive Breakthrough Device Designation and may still be the only hearing focused medical technology to receive the designation.
**Readers may be interested to view an interview with Envoy CEO, Brent Lucas, regarding their clinical trial with Mayo Clinic:
**CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by United States law to investigational use.
**Important safety information for the Esteem can be found at: https://www.envoymedical.com/safety-information.
About Anzu Special Acquisition Corp I
Anzu is a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination.
Source: Envoy Medical, Anzu Special Acquisition Corp I
