Anzu Special Acquisition I in an 8-K disclosed it has signed a non-binding letter of intent to pursue a potential merger with Envoy Medical, which has developed an FDA-approved cochlear implant to aid individuals with severe hearing loss.
The SPAC expects to execute a definitive agreement by the end of this month. Terms would include a requirement that Anzu have at least $40 million in trust at closing.
The 8-K also includes an inevstor presentation. Read more.
Source: Anzu Special Acquisition I and Envoy Medical Sign Non-Binding LOI