SCHEDULE: Ayrton Capital Discloses 3.1% Stake in Envoy Medical

Ayrton Capital LLC, Alto Opportunity Master Fund, and Waqas Khatri have filed a Schedule 13G reporting a 3.1% beneficial ownership stake in Envoy Medical, Inc. through warrant holdings.

Summary

• Ayrton Capital LLC, Alto Opportunity Master Fund, and Waqas Khatri collectively report beneficial ownership of 2,457,963 shares of Envoy Medical, Inc. Class A Common Stock.
• The reported holdings consist entirely of shares issuable upon the exercise of warrants.
• The stake represents 3.10% of the company's outstanding shares, based on 76,881,110 shares outstanding as of March 20, 2026.
• The holdings are subject to a 9.99% beneficial ownership blocker.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine regulatory disclosure regarding institutional shareholding that does not signal a change in company strategy or performance.

Positives

• Institutional investment interest from Ayrton Capital and associated entities.
• The filing confirms the reporting persons do not intend to change or influence the control of the issuer.

Negatives

• The reported position is based on warrants rather than direct equity ownership, indicating potential future dilution if exercised.

Risks

• The 9.99% beneficial ownership blocker limits the immediate ability of the reporting persons to convert their full warrant position into voting common stock.
• Market volatility could impact the value of the underlying warrants.

Future Outlook

The reporting persons state that the securities were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors holding passive stakes. This filing reflects typical capital market activity where investment firms hold warrants as part of their portfolio strategy in medical technology companies.

Comparison to Industry Standards

• The 3.1% stake is consistent with standard passive investment thresholds for small-to-mid-cap medical device companies.
• The use of a 9.99% ownership blocker is a standard protective provision in warrant agreements to avoid triggering regulatory thresholds or change-of-control provisions.

Stakeholder Impact

• Shareholders should note the potential for future dilution if the warrants are exercised.

Next Steps

• Potential future exercise of warrants by the reporting persons, subject to the 9.99% blocker.

Key Dates

Keywords

Envoy Medical, Schedule 13G, Ayrton Capital, Warrants, Beneficial Ownership, Equity