Cortigent, Inc. Amends IPO Registration Statement
Ticker: CRGT · Form: S-1/A · Filed: May 23, 2024 · CIK: 1958489
Sentiment: neutral
Topics: ipo, sec-filing, amendment
TL;DR
Cortigent IPO filing updated. Get ready.
AI Summary
Cortigent, Inc. filed an S-1/A amendment on May 23, 2024, for its initial public offering. The company, incorporated in Delaware, is based in Valencia, California, and operates in the electromedical and electrotherapeutic apparatus sector. This filing is an amendment to a previous registration statement, indicating ongoing preparations for its IPO.
Why It Matters
This S-1/A filing is a crucial step for Cortigent, Inc. as it moves closer to becoming a publicly traded company, potentially impacting its access to capital and future growth strategies.
Risk Assessment
Risk Level: medium — As an S-1/A filing, it represents a company in the process of going public, which inherently carries risks associated with market reception and regulatory scrutiny.
Key Numbers
- 3845 — SIC Code (Electromedical & Electrotherapeutic Apparatus industry)
- 88-4377248 — IRS Number (Company's Employer Identification Number)
Key Players & Entities
- Cortigent, Inc. (company) — Registrant
- May 23, 2024 (date) — Filing Date
- 333-270700 (registration_number) — SEC Registration Number
- Jonathan Adams (person) — Chief Executive Officer
- Aaron A. Grunfeld (person) — Agent for Service
- 27200 Tourney Road, Suite 315 Valencia, California 91355 (address) — Principal Executive Offices
FAQ
What is the purpose of this S-1/A filing?
This is an amendment (Amendment No. 8) to the Form S-1 Registration Statement filed by Cortigent, Inc. to register its securities for an initial public offering.
When was this amendment filed?
The amendment was filed with the SEC on May 23, 2024.
What industry does Cortigent, Inc. operate in?
Cortigent, Inc. operates in the Electromedical & Electrotherapeutic Apparatus sector, as indicated by its SIC Code 3845.
Who is the Chief Executive Officer of Cortigent, Inc.?
Jonathan Adams is the Chief Executive Officer of Cortigent, Inc.
Where are Cortigent, Inc.'s principal executive offices located?
Cortigent, Inc.'s principal executive offices are located at 27200 Tourney Road, Suite 315, Valencia, California 91355.
Filing Stats: 4,441 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-05-23 15:57:04
Key Financial Figures
- $10.00 — ic offering price of our shares will be $10.00 per share. We have applied to have ou
- $35 b — Estimated stroke-related medical costs: $35 billion2 – Estimated 195,000 annua
- $6 billion — 0% with hemiparesis3 – Estimated ~$6 billion US addressable market size4 1 The stro
- $115,000 — ntries at a price of approximately USD $115,000. In February 2013, the U.S. Food and Dr
- $150,000 — patients was approved at approximately $150,000. More than 350 profoundly blind people
Filing Documents
- g084228_s1a.htm (S-1/A) — 1426KB
- g084228_ex23-2.htm (EX-23.2) — 2KB
- img001.jpg (GRAPHIC) — 3KB
- img002.jpg (GRAPHIC) — 77KB
- img003.jpg (GRAPHIC) — 93KB
- img004.jpg (GRAPHIC) — 92KB
- img005.jpg (GRAPHIC) — 59KB
- img006.jpg (GRAPHIC) — 198KB
- 0001753926-24-001022.txt ( ) — 2149KB
DILUTION
DILUTION 44 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 45
BUSINESS
BUSINESS 51 MANAGEMENT 63 EXECUTIVE AND DIRECTOR COMPENSATION 69 PRINCIPAL SHAREHOLDER 70 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 71 DESCRIPTION OF SECURITIES 73 SHARES ELIGIBLE FOR FUTURE SALE 75
UNDERWRITING
UNDERWRITING 77 LEGAL MATTERS 84 EXPERTS 84 WHERE YOU CAN FIND MORE INFORMATION 85 PREPARATION AND STRUCTURE OF FINANCIAL STATEMENTS 85 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 3 No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. You must not rely on any unauthorized information or representations. This prospectus is an offer to sell only the shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is accurate only as of its date. Market data and certain industry data and forecasts used throughout this prospectus were obtained from internal company surveys, market research, consultant surveys, publicly available information, reports of governmental agencies and industry publications and surveys. Industry surveys, publications, consultant surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. We have not independently verified any of the data from third party sources, nor have we ascertained the underlying economic assumptions relied upon therein. Similarly, internal surveys, industry forecasts and market research, which we believe to be reliable based on our management’s knowledge of the industry, have not been independently verified. Forecasts are particularly likely to be inaccurate, especially over long periods of time. In addition, we do not necessarily know what assumptions regarding general economic growth were used in preparing the forecasts we cite. Statements as to our market position are based on the most currently available data. While we are not aware of any misstatements rega
Business
Business Overview Cortigent, through its predecessor Second Sight Medical Products, Inc., is a pioneer in developing precision (targeted) neurostimulation systems to help patients recover critical body functions. Our technology combines advanced neuroscience with proprietary microelectronics, software, and data processing capabilities to provide artificial vision and potentially restore muscle movement. Our first commercial system, Argus II ® , a retinal implant, was approved by the U.S. Food and Drug Administration (“FDA”) under a Humanitarian Device Exemption (“HDE”) and has provided artificial vision to hundreds of profoundly blind people who were implanted with this device. Building on this neurostimulation platform we have substantially completed an early feasibility clinical trial to evaluate a more advanced system for artificial vision that we call “Orion.” We are further exploring the application of our Orion ® neurostimulation technology for accelerating the recovery of arm and hand function in patients who are partially paralyzed due to stroke. In February 2023, we held a meeting with FDA staff to commence discussions of an early feasibility clinical study in stroke victims. We believe that additional future applications of our platform technology may have the potential to generate substantial business growth over time. Both the Argus II and Orion devices create artificial vision by using electrical stimulation. Artificial vision does not restore normal stereoscopic vision or vision with color but rather perceptions of light and shapes requiring implantees to interpret their environment through specialized training. This artificial vision can aid in supporting basic tasks such as finding a doorway, detecting another person’s presence, following a sidewalk or locating an object. For the Argus II device, the stimulation is delivered to the surviving cells of the retina which convey the activity to the br