Envoy Medical Draws Final $5 Million From GAT Funding

Envoy Medical, Inc. (NASDAQ:COCH) is among the best get rich quick stocks to buy now. Envoy Medical, Inc. (NASDAQ:COCH) has disclosed that it has tapped into the remaining $5 million of principal available under its promissory note with GAT Funding, LLC, which is under the control of Glen Taylor, who happens to be a part of the company’s board of directors.

As the conditions of the additional draw, Envoy Medical, Inc. (NASDAQ:COCH) issued GAT Funding a warrant to acquire 750,000 shares of its Class A Common Stock, with an exercise price of $1.48 per share. This price is the same as the closing price of the stock on the date of the draw.

A medical laboratory technician using the latest equipment and technology preparing a sample for testing.

The shares associated with these warrants were issued via a private transaction based on exemptions from registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D. In other news, Envoy Medical, Inc. (NASDAQ:COCH) has secured two new U.S. patents for its implantable hearing technology. There’s a good reason to believe that the company has a long way to go.

Envoy Medical, Inc. (NASDAQ:COCH) is a Minnesota-based hearing health company that offers medical technologies across the hearing loss spectrum. Founded in 1995, the company is committed to transforming the hearing industry.

While we acknowledge the potential of COCH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COCH and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.