Anzu Special Acquisition Corp I (ANZU) Closes Envoy Medical Deal

Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2.

The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote with about $43.7 million in its trust and had supplemented this with a $10 million PIPE and OTC equity prepaid forward transaction involving up to 4,300,000 shares.

Anzu Special Acquisition Corp. I inked its deal with Envoy on April 18, 2023. White Bear Lake, Minnesota-based Envoy is developing an innovative cochlear implant for those suffering from hearing loss that would be fully implanted and use the ear rather than a microphone gather sound.

Its post-close Board is to include officers with past experience at Abbott (NYSE:ABT), Medtronic (NYSE:MDT), Boston Scientific (NYSE:BSX), Johnson & Johnson (NYSE:JNJ), and PwC.