Vivani Medical Withdraws Record Date for Cortigent Neuromodulation Subsidiary Spin-Off
Vivani Medical (NASDAQ: VANI) announced on Oct 3, 2025 that it has temporarily withdrawn the previously announced record date for the planned spin-off of its wholly owned subsidiary Cortigent, which develops brain implant neuromodulation devices. The withdrawal is due to delays arising from the current shutdown of the U.S. federal government. Vivani expects to reestablish and announce a new record date as soon as possible. The press release notes that ThinkEquity is acting as exclusive financial advisor to Cortigent for the spin-off transaction and provides a link to ThinkEquity for more information.
Vivani Medical (NASDAQ: VANI) ha annunciato il 3 ottobre 2025 che ha ritirato temporaneamente la data record precedentemente annunciata per la prevista spin-off della controllata interamente posseduta Cortigent, che sviluppa dispositivi di neuromodulazione cerebrale. Il ritiro è dovuto a ritardi causati dall'attuale chiusura del governo federale degli Stati Uniti. Vivani prevede di ristabilire e annunciare una nuova data record il prima possibile. Il comunicato stampa segnala che ThinkEquity sta agendo come consulente finanziario esclusivo per Cortigent per la transazione di spin-off e fornisce un link a ThinkEquity per ulteriori informazioni.
Vivani Medical (NASDAQ: VANI) anunció el 3 de octubre de 2025 que ha retirado temporalmente la fecha de registro anunciada previamente para la escisión de su subsidiaria totalmente propietaria Cortigent, que desarrolla dispositivos de neuromodulación cerebral. La retirada se debe a retrasos derivados del actual cierre del gobierno federal de EE. UU. Vivani espera restablecer y anunciar una nueva fecha de registro tan pronto como sea posible. El comunicado de prensa señala que ThinkEquity actúa como asesor financiero exclusivo de Cortigent para la transacción de la escisión y ofrece un enlace a ThinkEquity para obtener más información.
Vivani Medical (NASDAQ: VANI)은 2025년 10월 3일에 자사 전액 소유 자회사 Cortigent의 계획된 분할에 대한 이전에 발표된 기록일을 일시적으로 철회했다고 발표했습니다. 이는 미국 연방 정부의 현재 셧다운으로 인한 지연 때문입니다. Vivani는 가능한 한 빨리 새로운 기록일을 재설정하고 발표할 것으로 예상합니다. 보도자료에는 ThinkEquity가 Cortigent의 분할 거래에 대한 독점 재무 자문사를 맡고 있으며, 추가 정보를 위해 ThinkEquity로 연결되는 링크를 제공합니다.
Vivani Medical (NASDAQ : VANI) a annoncé le 3 octobre 2025 qu'il avait temporairement retiré la date d'enregistrement précédemment annoncée pour la scission prévue de sa filiale entièrement détenue Cortigent, qui développe des dispositifs de neuromodulation cérébrale. Le retrait est dû à des retards résultant de la fermeture actuelle du gouvernement fédéral américain. Vivani prévoit de rétablir et d'annonce une nouvelle date d'enregistrement dès que possible. Le communiqué de presse indique que ThinkEquity agit en tant que conseiller financier exclusif de Cortigent pour la transaction de scission et fournit un lien vers ThinkEquity pour plus d'informations.
Vivani Medical (NASDAQ: VANI) gab am 3. Oktober 2025 bekannt, dass es vorübergehend das zuvor angekündigte Aufzeichnungsdatum für die geplante Ausgliederung seiner vollständig im Eigentum befindlichen Tochtergesellschaft Cortigent zurückgezogen hat, die Geräte zur Neuromodulation des Gehirns entwickelt. Der Rückzug resultiert aus Verzögerungen infolge des aktuellen Shutdowns der US-Bundesregierung. Vivani erwartet, so bald wie möglich ein neues Aufzeichnungsdatum festzulegen und bekannt zu geben. Die Pressemitteilung weist darauf hin, dass ThinkEquity als exklusiver Finanzberater von Cortigent für die Ausgliederung fungiert und verweist auf einen Link zu ThinkEquity für weitere Informationen.
Vivani Medical (NASDAQ: VANI) أعلنت في 3 أكتوبر 2025 أنها علّقت مؤقتاً تاريخ التسجيل الذي أُعلن سابقاً لاقتطاعها المنفصل المقرر لشركتها التابعة المملوكة بالكامل Cortigent، التي تطور أجهزة تحفيز عصبي للدماغ. يعود هذا التعليق إلى التأخيرات الناتجة عن الإغلاق الحكومي الفيدرالي الأمريكي الحالي. وتتوقع Vivani إعادة إنشاء وتحديد تاريخ تسجيل جديد في أقرب وقت ممكن. وتذكر البيان الصحفي أن ThinkEquity يتصرف كمستشار مالي حصري لـ Cortigent في صفقة الفصل، ويوفر رابطاً إلى ThinkEquity لمزيد من المعلومات.
Vivani Medical (NASDAQ: VANI) 于 2025年10月3日 宣布，其对其全资拥有的子公司Cortigent拟进行的分拆的先前宣布的记录日已被暂时撤回。撤回原因是当前美国联邦政府关闭所致的延迟。Vivani 预计尽快重新确立并宣布新的记录日，尽快。新闻稿指出，ThinkEquity 为 Cortigent 分拆交易的独家财务顾问，并提供 ThinkEquity 的信息链接。
- ThinkEquity named exclusive financial advisor to Cortigent
- Company commits to reestablishing a new record date promptly
- Record date withdrawn on Oct 3, 2025
- Spin-off delayed by current U.S. federal government shutdown
- Timing of Cortigent spin-off now uncertain for shareholders
The Company expects to reestablish and announce a new record date as soon as possible
ALAMEDA, Calif., Oct. 03, 2025 (GLOBE NEWSWIRE) -- Vivani Medical, Inc. (NASDAQ: VANI) (“Vivani” or the “Company”), a clinical-stage biopharmaceutical company developing miniature, ultra long-acting drug implants, today announced that the Company will temporarily withdraw the previously announced record date for the planned spin-off of Cortigent, Inc. (“Cortigent”), its wholly-owned subsidiary developing brain implant devices with cutting-edge neuromodulation technology, due to delays arising from the current shutdown of the U.S. federal government.
Vivani expects to reestablish and announce a new record date as soon as possible.
ThinkEquity is acting as the exclusive financial advisor to Cortigent with respect to the spin-off transaction. For more information, please visit: www.think-equity.com
About Cortigent, Inc.
Cortigent, a wholly-owned subsidiary of Vivani, is developing brain implant devices to help patients recover critical body functions. Our proprietary technology platform leverages neuroscience, proprietary microelectronics, and artificial intelligence to create advanced medical devices called neurostimulation brain-computer interfaces (BCIs). Our predecessor, Second Sight Medical Products, previously marketed Argus® II, the first and only medical device to obtain FDA approval to treat a rare form of blindness. This innovative device has helped hundreds of profoundly blind patients to achieve meaningful visual perception. Cortigent’s next generation investigational system, the Orion® Visual Cortical Prosthesis System, has been designed to treat blindness caused by common conditions including glaucoma and diabetic retinopathy. Orion has an FDA Breakthrough Device designation, completed a 6-year Early Feasibility Study in 2025 with promising safety and efficacy results and is covered by an extensive intellectual property estate. Cortigent is also applying its precision neurostimulation technology to improving recovery of arm and hand motion in patients with paralysis due to stroke. For more information and patient videos, please visit: www.cortigent.com.
About Vivani Medical, Inc.
Leveraging its proprietary NanoPortal™ platform, Vivani develops biopharmaceutical implants designed to deliver drug molecules steadily over extended periods of time with the goal of guaranteeing adherence and improving patient tolerance to their medication. Vivani is developing a portfolio of GLP-1 based implants for metabolic diseases including obesity and type 2 diabetes. These NanoPortal implants are designed to provide patients with the opportunity to realize the full potential benefit of their medication by avoiding the numerous challenges associated with the daily or weekly administration of orals and injectables, including tolerability issues and loss of efficacy. Medication non-adherence occurs when patients do not take their medication as prescribed. This affects an alarming number of patients, approximately
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that are used in this press release, including statements regarding Vivani’s business, products in development, Vivani’s plans with respect to Cortigent’s spin-off and Vivani’s technology, strategy, cash position and financial runway. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Vivani’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Vivani’s control. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including, without limitation, risks that the spin-off will not be completed in a timely manner or at all; risks of failure to satisfy any conditions to the spin-off; risks of failure of the spin-off to qualify for non-recognition of gain or loss for U.S. federal income tax purposes; uncertainty of whether the anticipated benefits of the spin-off can be achieved; risks of unexpected costs or delays; and risks and uncertainties associated with the development and commercialization of products and product candidates that may impact or alter anticipated business plans, strategies and objectives. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, risks related to market conditions and the ability of Cortigent to complete its spin-off, Cortigent’s history of losses and its ability to access additional capital or otherwise fund its business and advance its product candidates and pre-clinical programs. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. There may be additional risks that the Company or Cortigent consider immaterial, or which are unknown. A further list and description of risks and uncertainties can be found in the Company’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 31, 2025, as updated by the Company’s subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement made by Vivani in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of added information, future developments or otherwise, except as required by law.
Company Contact:
Donald Dwyer
Chief Business Officer
info@vivani.com
(415) 506-8462
Investor Relations Contact:
Jami Taylor
Investor Relations Advisor
investors@vivani.com
(415) 506-8462
Media Contact:
Sean Leous
ICR Healthcare
Sean.Leous@ICRHealthcare.com
(646) 866-4012
FAQ
Why did Vivani (VANI) withdraw the Cortigent spin-off record date on Oct 3, 2025?
When will Vivani (VANI) announce a new record date for the Cortigent spin-off?
Who is advising Cortigent on the spin-off transaction for Vivani (VANI)?
Does the Oct 3, 2025 withdrawal of the record date affect Cortigent's business operations?
Where can investors find more information about the Cortigent spin-off and advisor details?
