Vivani Medical, Inc. has entered into a definitive agreement to merge its wholly-owned subsidiary, Cortigent, Inc., with ClearOne, Inc. (ClearOne). Cortigent will merge with ClearOne's subsidiary, MergerSub, and become a wholly-owned subsidiary of ClearOne. Vivani Medical will receive 12,500,000 shares of ClearOne common stock as merger consideration. ClearOne plans to raise between $10,000,000 and $15,000,000 through the issuance of units, each consisting of one share of common stock and one warrant. The combined company's board of directors is expected to consist of five members, with four designated by Vivani Medical and one by ClearOne stockholders. Vivani Medical shareholders will have their shares locked up for one to two years following the closing of the merger. The merger is subject to customary closing conditions, including stockholder approvals and the successful completion of ClearOne's financing.