Vivani Medical, Inc. Announces Pricing of Common Stock Offering

ALAMEDA, Calif. — Vivani Medical, Inc. (Nasdaq: VANI) (“Vivani” or the “Company”), a clinical-stage biopharmaceutical firm focused on the development of miniature, ultra long-acting drug implants, today announced the pricing of a new common stock offering designed to raise approximately $4.5 million in gross proceeds. The offering includes both a registered direct sale of shares and a private placement to an insider investor.

Overview of the Offering

The Company has priced a best efforts registered direct offering consisting of 1,689,200 shares of its common stock at an offering price of $1.48 per share. At the same time, Vivani is conducting a concurrent private placement of 1,351,351 shares of common stock at the same price per share.

Both the registered offering and the private placement are being conducted “at-the-market” under the Nasdaq rules and regulations. The aggregate gross proceeds from these transactions are expected to be approximately $4.5 million, before deducting placement agent fees and estimated offering expenses.

The transactions are anticipated to close on or about January 27, 2026, subject to the satisfaction of customary closing conditions.

Private Placement and Insider Participation

The private placement portion of the offering was purchased by Gregg Williams, the Chairman of Vivani’s Board of Directors. His participation reflects continued confidence from company leadership in the firm’s strategy and long-term prospects.

Private placements to insiders like board members often occur when such investors believe in the value and future potential of the company’s products and development pipeline. Including a senior insider in the offering may also support market confidence, although it may dilute existing shares.

Purpose of the Funds Raised

Vivani intends to use the net proceeds from both the registered direct offering and the private placement to support a combination of strategic priorities, including:

• Funding ongoing research and clinical development of its pipeline of product candidates, particularly its innovative drug implant technologies;
• General corporate purposes, which include working capital needs; and
• Supporting operational costs as the Company advances toward key milestones in 2026 and beyond.

These uses are typical for clinical-stage biotech companies that do not yet generate significant revenue and rely on fundraising to sustain development activities.

Placement Agent and Regulatory Filings

ThinkEquity is acting as the sole placement agent for the registered direct offering. The securities to be issued in the registered direct offering are being offered under a previously filed shelf registration statement on Form S-3 (File No. 333-278869), which was filed with the U.S. Securities and Exchange Commission (“SEC”) and declared effective in 2024.

The final prospectus supplement and accompanying prospectus, which will describe the terms of the offering in more detail, will be filed with the SEC and made available on its website at www.sec.gov. Interested investors may also request copies from the offices of ThinkEquity.

Forward-Looking Statements and Disclaimers

This press release contains certain forward-looking statements regarding Vivani’s business strategies, expectations for the offering, research and development plans, financial runway, and other aspects of future performance. These statements are based on current expectations and assumptions that involve risks and uncertainties, many of which are beyond the Company’s control.

Investors are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially due to a variety of factors, including market conditions, regulatory outcomes, costs associated with clinical trials, and other risks inherent in drug development.

About Vivani Medical, Inc.

Vivani Medical is a clinical-stage biopharmaceutical company focused on the development of miniature, ultra long-acting drug implants designed to deliver medication consistently over extended periods. Leveraging its proprietary NanoPortal™ platform, the Company is developing a portfolio of GLP-1 based implants for metabolic diseases, including obesity and type 2 diabetes.

These implants are intended to improve medication adherence — a significant challenge where patients fail to take treatments as prescribed, which can occur in approximately 50% of cases for many chronic conditions — and to enhance overall treatment outcomes.

Vivani is headquartered in California and traded on the Nasdaq under the ticker symbol VANI.

Industry and Market Context

The biotech and pharmaceutical sector often requires ongoing capital raises to support research and trials. Many clinical-stage companies without products approved for commercial sale rely on equity offerings to bolster their balance sheets. Vivani’s efforts continue a series of capital-raising activities the company has undertaken over the past year to ensure sufficient funding for its development programs.

Equity offerings like this one can affect existing shareholders through share dilution, but they are generally used as a means to sustain long-term growth and product development when other funding sources, such as revenue from product sales, are not yet available.

Anticipated Closing and Next Steps

With closing expected around January 27, 2026, Vivani will next focus on deploying the proceeds as outlined to support both its research goals and operational requirements. Shareholders and potential investors will likely monitor further news regarding clinical progress, regulatory updates, and additional financial developments from the Company.

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