Current Report Filing (8-k)
March 21 2023 - 4:05PM
Edgar (US Regulatory)
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2023-03-19
2023-03-19
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): March
19, 2023
VIVANI MEDICAL, INC.
(Exact name of registrant as specified in its charter)
California |
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001-36747 |
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02-0692322 |
(State or other jurisdiction of
incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
5858 Horton Street, Suite 280
Emeryville, California |
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94608 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area
code: (818) 833-5000
(Former name or former address, if changed since last
report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock |
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VANI |
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Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 1.01 |
Entry into a Material Definitive Agreement. |
On March 19, 2023, the
Company and Cortigent, Inc. (“Cortigent”), a wholly owned subsidiary of the Company entered into a Transition Funding,
Support and Services Agreement (the “TFSSA”), pursuant to which the Company has agreed to advance funds and provide or
cause to be provided to Cortigent the services and funding intended to cover salaries and related costs, rent and other overhead in
order to permit Cortigent to operate in substantially the same manner in which business operations of Cortigent were previously
operated by Second Sight Medical Products, Inc., prior to the formation of Cortigent, which obligations will continue, in the case
of the funding obligations, until the earlier of December 31, 2024 or the closing of an initial public offering of Cortigent (the
"Funding Support Term"). Cortigent has agreed to repay all funds advanced to it by the Company, plus accrued interest, at
the conclusion of the Funding Support Term. In addition, the Company and Cortigent have agreed to provide the services of certain of
its respective employees to the other, in each case on an interim basis and on the terms and conditions specified in the TFSSA. Each
of the Company and Cortigent has also agreed to indemnify the other for certain matters enumerated in the TFSSA.
The foregoing description of
the TFSSA does not purport to be complete and is qualified in its entirety by reference to the TFSSA, a copy of which is being filed
as Exhibit 10.1 hereto and is incorporated by reference into this Item 1.01.
Item 7.01. Regulation
FD Disclosure
Vivani Medical, Inc. (the “Company”) from
time to time presents and/or distributes to the investment community at various industry and other conferences slide presentations to
provide updates and summaries of its business. These slides are attached to this Current Report on Form 8-K as Exhibit 99.1 and are incorporated
by reference herein. The Company is also posting to the “Investors” portion of its website a copy of its current corporate
slide presentation. The slides speak as of the date of this Current Report on Form 8-K. While the
Company may elect to update the slides in the future or reflect events and circumstances occurring
or existing after the date of this Current Report on Form 8-K, the Company specifically
disclaims any obligation to do so.
On March
21, 2023, the Company issued a press release entitled “Vivani
Medical Announces Public Filing of Registration Statement for the Proposed Initial Public Offering of Cortigent, Inc., a Subsidiary Advancing
the Business of its Neuromodulation Division”, which is attached to this Current Report
as Exhibit 99.2.
The information contained in this Item 7.01 and Exhibits
99.1 and 99.2 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange
Act, except as shall be expressly set forth by reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURE
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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VIVANI MEDICAL, INC. |
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Date: March 21, 2023 |
By: |
/s/
Donald Dwyer |
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Donald Dwyer |
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Chief Business Officer |
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