- On **August 25, 2025**, Envoy Medical, Inc. **extinguished over $32 million in debt** (including principal and accrued interest) owed to GAT Funding, LLC, in exchange for a **cash payment of $100,000**.  **[1840877_0001213900-25-080530_ea025459001ex99-1_envoy.htm:0]** **[1840877_0001213900-25-080530_ea0254590-8k_envoy.htm:1]** 
- The extinguished debt comprised promissory notes from February 2024, August 2024, and March 2025, with a total outstanding principal balance of **$30,800,000** and accrued interest of **$1,211,552** as of the effective date.  **[1840877_0001213900-25-080530_ea025459001ex10-1_envoy.htm:0]** 
- This action is expected to **strengthen the company's balance sheet** and **simplify its capital structure** by eliminating all term loan obligations without equity conversion.  **[1840877_0001213900-25-080530_ea025459001ex99-1_envoy.htm:0]** 
- Concurrently, **Glen A. Taylor**, owner of GAT Funding, LLC and the company's largest stockholder, **retired from Envoy Medical's Board of Directors** effective August 25, 2025.  **[1840877_0001213900-25-080530_ea025459001ex99-1_envoy.htm:0]** **[1840877_0001213900-25-080530_ea0254590-8k_envoy.htm:1]**

Envoy Medical (COCH)