Vivani Medical (Nasdaq: VANI) priced a best-efforts registered direct offering of 1,689,200 shares and a concurrent private placement of 1,351,351 shares at $1.48 per share.
Gross proceeds are expected to be approximately $4.5 million before fees and expenses. The private placement purchaser is Gregg Williams, chairman of the board. The offerings are expected to close on or about January 27, 2026, and net proceeds will fund research and clinical development, working capital and general corporate purposes.
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Positive
- Gross proceeds of approximately $4.5M expected
- Chairman Gregg Williams purchased 1,351,351 shares (insider participation)
- Proceeds earmarked to fund ongoing research and clinical development
Negative
- Issuance of 3,040,551 shares will dilute existing shareholders
- Gross amount is before placement agent fees and offering expenses, reducing net proceeds
- Offering is best-efforts, so actual proceeds may be lower than expected
Registered shares
1,689,200 shares
Best efforts registered direct offering
Private placement shares
1,351,351 shares
Concurrent private placement to Chairman Gregg Williams
Offering price
$1.48 per share
Price for both registered offering and private placement
Gross proceeds
approximately $4.5 million
Combined registered offering and private placement before fees
Expected closing date
January 27, 2026
Anticipated closing of offering and private placement
Medication non-adherence
approximately 50%
Share of patients not taking medication as prescribed
$1.48
Last Close
Volume
Volume 181,530 is 0.65x the 20-day average of 280,748, indicating subdued pre-news trading.
low
Technical
Shares trade above the 200-day MA of $1.31, with price at $1.48 and 22.92% below the 52-week high.
Momentum data reveal limited sector confirmation: only one biotech peer (IMMX) appeared, shifting down about 4.52% with no news, while other close peers reveal mixed, mostly negative single-stock shifts.
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Oct 28 |
Offering closing |
Negative |
+3.1% |
Closed registered direct and private placement raising about $15.7M gross. |
| Oct 26 |
Offering pricing |
Negative |
+0.0% |
Priced registered direct and private placement at $1.62 per share. |
| Mar 01 |
Offering pricing |
Negative |
-26.8% |
Announced pricing of $15.0M registered direct offering of stock and warrants. |
Prior equity offerings have produced mixed reactions: one sharp selloff, one modest gain, and one flat session, suggesting investor response to dilution and funding has been inconsistent.
Over recent years, Vivani has repeatedly applyd equity offerings to fund development, including three prior “offering” events on Oct 26, 2025, Oct 28, 2025, and Mar 1, 2024. Those raises combined registered directs and private placements, often involving Chairman Gregg Williams. Price reactions ranged from a gain of 3.09% to a decline of 26.78%, underscoring variable market tolerance for dilution. Today’s offering continues this pattern of raising capital for R&D and corporate purposes.
Historical Comparison
+10.0
%
Average Historical Move
Over three prior offering announcements, VANI saw an average shift of 9.96%, with outcomes ranging from a steep selloff to a modest gain, revealing volatile reactions to dilution.
Vivani has repeatedly raised equity via registered directs and concurrent private placements, often with participation from Chairman Gregg Williams, to fund pipeline and corporate requireds.
This announcement details a new equity raise totaling about $4.5 million at $1.48 per share via a registered direct and concurrent private placement to the board chairman. It continues Vivani’s pattern of applying offerings to fund NanoPortal-based implants and corporate requireds. Historical “offering” events have produced mixed price reactions, from modest gains to sharp declines, underscoring dilution sensitivity. Investors may track future capital raises, trial progress, and insider activity to contextualize this financing within Vivani’s broader trajectory.
registered direct offering
financial
“announced the pricing of a best efforts registered direct offering of 1,689,200”
A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without requireding a public auction, similar to offering exclusive access to a limited number of acquireers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.
private placement
financial
“and concurrent private placement of 1,351,351 shares of its common stock”
A private placement is a way for companies to raise money by selling securities directly to a compact group of investors instead of through a public offering. This process is often quicker and less regulated, creating it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.
prospectus supplement
regulatory
“A final prospectus supplement and accompanying prospectus describing the terms”
A prospectus supplement is an additional document provided alongside a company’s main offering details, offering updated or extra information about a specific financial product being sold. It supports investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before creating a decision.
prospectus
regulatory
“A final prospectus supplement and accompanying prospectus describing the terms”
A prospectus is a detailed document that explains a company’s plans for offering new shares or investments to the public. It’s important becaapply it provides potential investors with key information about the company’s business, risks, and how they might build money, supporting them decide whether to invest. Think of it as a guidebook for understanding what you’re acquireing into.
forward-viewing statements
regulatory
“This press release contains certain “forward-viewing statements” within the meaning”
Forward-viewing statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter becaapply they support investors understand a company’s outview, but since they are based on guesses and assumptions, they can sometimes be wrong.
safe harbor
regulatory
“within the meaning of the “safe harbor” provisions of the U.S. Private Securities”
Safe harbor is a rule that protects companies or individuals from legal trouble if they follow certain guidelines or procedures. It’s like having a safety net that allows them to act without fear of punishment, as long as they stick to the rules. This supports encourage honest behavior and clear standards in financial and legal activities.
AI-generated analysis. Not financial advice.
ALAMEDA, Calif., Jan. 25, 2026 (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 the pricing of a best efforts registered direct offering of 1,689,200 shares of its common stock at an offering price of
The Company intconcludes to apply the net proceeds from the registered offering and private placement to fund ongoing research and clinical development of the Company’s product candidates, as well as for working capital and general corporate purposes.
ThinkEquity is acting as sole placement agent for the registered direct offering.
The securities in the registered direct offering were offered and will be issued pursuant to a shelf registration statement on Form S-3 (File No. 333-278869), including a base prospectus, filed with the U.S. Securities and Exmodify Commission (the “SEC”) on April 22, 2024 and declared effective on May 3, 2024. The offering will be created only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC and will be available on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to acquire, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Vivani Medical, Inc.
Leveraging its proprietary NanoPortal™ platform, Vivani develops biopharmaceutical implants designed to deliver drug molecules steadily over extconcludeed 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-viewing statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-viewing statements can be identified by words such as: “tarobtain,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that are applyd in this press release, including statements regarding Vivani’s business, products in development, including the therapeutic potential thereof, the planned development thereof, and its technology, strategy, cash position and financial runway. Forward-viewing statements are neither historical facts nor assurances of future performance. Instead, they are based only on Vivani’s current beliefs, expectations, and assumptions. Becaapply forward-viewing statements relate to the future, they are subject to inherent uncertainties, risks and modifys 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 caapply actual results to differ materially from those reflected in such statements, including, without limitation, 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-viewing statements. Therefore, you should not rely on any of these forward-viewing statements. The foregoing sets forth many, but not all, of the factors that could caapply actual results to differ from our expectations in any forward-viewing statement. There may be additional risks that the Company considers 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 Exmodify Commission on March 31, 2025, as updated by the Company’s subsequent Quarterly Reports on Form 10-Q. Any forward-viewing statement created 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 created. The Company undertakes no obligation to publicly update any forward-viewing statement, whether written or oral, that may be created from time to time, whether as a result of added information, future developments or otherwise, except as required by law.
For Investor Relations Inquiries:
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
How many shares did Vivani (VANI) offer and at what price on January 26, 2026?
Vivani offered 1,689,200 shares in a registered direct offering and 1,351,351 shares in a private placement at $1.48 per share.
How much gross proceeds will Vivani (VANI) raise from the January 2026 offering?
The combined registered offering and private placement are expected to generate approximately $4.5 million in gross proceeds before fees and expenses.
Who purchased shares in Vivani’s (VANI) concurrent private placement?
Gregg Williams, the company’s chairman of the board, purchased 1,351,351 shares in the private placement.
When is the Vivani (VANI) offering expected to close and what are the applys of proceeds?
The offerings are expected to close on or about January 27, 2026, with net proceeds to fund ongoing research and clinical development, working capital and general corporate purposes.
Will Vivani (VANI) incur fees that reduce the offering’s net proceeds?
Yes; the stated $4.5 million is gross proceeds and will be reduced by placement agent fees and estimated offering expenses.
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