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Envoy Medical Obtains $10 Million Lending Facility From Glen Taylor
2024-08-28 20:17
08:17 AM EDT, 08/28/2024 (MT Newswires) -- Envoy Medical (COCH) said Wednesday it has secured a $10 million lending facility from its majority shareholder Glen Taylor.
The company said it drew $5 million at the facility's origination, with funds available as needed.
The unsecured lending facility has a five-year term, an 8% interest rate, and defers interest payments for the first two years, Envoy Medical said.
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