Vivani Medical Files 8-K with Material Agreement Details
Ticker: VANI · Form: 8-K · Filed: Apr 23, 2024 · CIK: 1266806
Sentiment: neutral
Topics: material-agreement, filing
Related Tickers: VVNI
TL;DR
Vivani Medical (VVNI) filed an 8-K on 4/22 for a material definitive agreement. Details to follow.
AI Summary
On April 22, 2024, Vivani Medical, Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes financial statements and exhibits, with the report being filed as of April 23, 2024.
Why It Matters
This 8-K filing indicates Vivani Medical has entered into a significant agreement, which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's future performance.
Key Players & Entities
- Vivani Medical, Inc. (company) — Registrant
- April 22, 2024 (date) — Date of earliest event reported
- April 23, 2024 (date) — Filing date
- 1350 S. Loop Road Alameda, California 94502 (address) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Vivani Medical, Inc. on April 22, 2024?
The 8-K filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in the provided text.
When was this 8-K report filed with the SEC?
The 8-K report was filed as of April 23, 2024.
What is Vivani Medical, Inc.'s principal executive office address?
Vivani Medical, Inc.'s principal executive offices are located at 1350 S. Loop Road, Alameda, California 94502.
What was Vivani Medical, Inc.'s former name?
Vivani Medical, Inc.'s former name was Second Sight Medical Products Inc., with a date of name change on October 10, 2003.
What is the SIC code for Vivani Medical, Inc.?
The Standard Industrial Classification (SIC) code for Vivani Medical, Inc. is 3845, which corresponds to ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS.
Filing Stats: 927 words · 4 min read · ~3 pages · Grade level 11.8 · Accepted 2024-04-22 17:38:08
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share VANI Nasdaq Capital Mark
- $75.0 million — ng an aggregate offering price of up to $75.0 million through Jefferies as its sales agent. A
Filing Documents
- g084197_8k.htm (8-K) — 36KB
- 0001753926-24-000816.txt ( ) — 204KB
- vani-20240422.xsd (EX-101.SCH) — 3KB
- vani-20240422_lab.xml (EX-101.LAB) — 33KB
- vani-20240422_pre.xml (EX-101.PRE) — 22KB
- g084197_8k_htm.xml (XML) — 3KB
01
Item 1.01 Entry into a Material Definitive Agreement. On April 22, 2024, Vivani Medical, Inc. (the "Company") entered into an Open Market Sale Agreement SM (the "Agreement") with Jefferies LLC ("Jefferies"), under which the Company may offer and sell, from time to time at its sole discretion, shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), having an aggregate offering price of up to $75.0 million through Jefferies as its sales agent. Also on April 22, 2024, the Company filed a Registration in accordance with the Agreement. The Company may sell the Common Stock under the Agreement (A) in privately negotiated transactions; (B) as block transactions; or (C) by any other method permitted by law deemed to be an "at-the-market" offering as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on the Nasdaq Capital Market or sales made into any other existing trading market for the shares of Common Stock. Jefferies will use commercially reasonable efforts to place the shares of Common Stock from time to time, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay Jefferies a commission of up to three percent (3.0%) of the gross sales proceeds of any Common Stock sold through Jefferies under the Agreement, and also has provided Jefferies with customary indemnification rights. In addition, the Company has agreed to reimburse certain legal expenses and fees incurred by Jefferies in connection with the offering. The Company is not obligated to make any sales of Common Stock under the Agreement. The offering of shares of Common Stock pursuant to the Agreement will terminate upon the earlier of (i) the sale of all Common Stock subject t
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 Open Market Sale Agreement SM by and between the Company and Jefferies LLC, dated April 22, 2024 (incorporated by reference to Exhibit 1.2 of the Company's Registration Statement on Form S-3 filed on April 22, 2024) 5.1 Opinion of Goodwin Procter LLP (incorporated by reference to Exhibit 5.1 of the Company's Registration Statement on Form S-3 filed on April 22, 2024) 5.2 Opinion of Goodwin Procter LLP relating to sales agreement prospectus (incorporated by reference to Exhibit 5.2 of the Company's Registration Statement on Form S-3 filed on April 22, 2024). 23.1 Consent of Goodwin Procter LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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 thereunto duly authorized. VIVANI MEDICAL, INC. Date: April 22, 2024 By: /s/ Brigid A. Makes Name: Brigid A. Makes Title: Chief Financial Officer