Vivani Medical prices 7.4M shares at $1.12 in private placement financing

Vivani Medical (VANI) has entered into a securities purchase agreement to issue and sell an aggregate of 7,366,071 shares, each at a price of $1.12 per share, expected to result in gross proceeds of approximately $8.25M in a private placement. The Company expects the gross proceeds from this private placement to extend its cash runway into the second quarter of 2026, enabling accelerated development of NPM-139, its once or twice-yearly GLP-1 implant under development for chronic weight management, and continued development of NPM-115, its twice-yearly GLP-1 implant which is also under development for chronic weight management. The Company has entered into a securities purchase agreement with an entity beneficially owned by Gregg Williams, the Chairman of the Company’s board of directors. The private placement was priced “at-the-market” under the rules and regulations of The Nasdaq Stock Market. The private placement is expected to have several closing dates.