Envoy Medical Corporation completed the acquisition of Anzu Special Acquisition Corp I from Anzu SPAC GP I LLC and others in a reverse merger transaction.
The transaction is subject to approval of the business combination and related agreements and transactions by the respective stockholders of Anzu and Envoy, effectiveness of the Registration Statement, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, receipt of approval for listing on The Nasdaq Stock Market or another national securities exchange of the shares of Anzu Class A Common Stock to be issued in connection with the Business Combination, resignation of directors of Envoy and Anzu, execution of registration rights agreement and Anzu having at least $5,000,001 of net tangible assets. The deal is subject to Anzu having more than $40 million in the Trust Account immediately prior to any redemptions at the closing of the business combination. Respective Boards of Directors of Anzu, the aggregate number of Dissenting Shares shall not equal or exceed 5% of the shares and Envoy have approved the transaction. Envoy Board established a special committee consisting of three individuals. This potential business combination was reviewed by a special committee of the Anzu Board (the ?Anzu Special Committee?). The transaction is expected to close in the first half of 2023. As of September 27, 2023, stockholders of Anzu Special Acquisition Corp I have approved the transaction. Business Combination is now expected to be consummated on September 29, 2023.
Mitchell Presser, David Slotkin, Aly El Hamamsy, Justin Salon, Andrew Campbell and David Kaufman of Morrison & Foerster LLP are legal advisors to Anzu. Melodie Rose, Chris Melsha and Andrew Nick of Fredrikson & Byron, P.A. are legal advisor to Envoy. Northland is not entitled to an upfront fee in connection with such advisory services and will receive a success fee of $1,500,000 upon the completion of the Business Combination. Anzu has engaged Morrow Sodali LLC to assist in the solicitation of proxies. American Stock Transfer & Trust Company, LLC acted as transfer agent to Anzu.
Envoy Medical Corporation completed the acquisition of Anzu Special Acquisition Corp I (NasdaqCM:ANZU) from Anzu SPAC GP I LLC and others in a reverse merger transaction on September 29, 2023. The Company expects to commence trading of its Class A common stock and warrants on the Nasdaq Capital Market under the ticker symbols ?COCH? and ?COCHW,? respectively, on October 2, 2023.