# EDGAR Filing Document

**Accession Number:** 0001840877
**File Stem:** 0001213900-26-014612
**Filing Date:** 2026-2
**Character Count:** 38180
**Document Hash:** 9bb3c1d3e5ab30cb75a0cd3c4a865e06
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-014612.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0001213900-26-014612

**CONFORMED SUBMISSION TYPE**: S-1MEF

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**EFFECTIVENESS DATE**: 20260211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Envoy Medical, Inc.
- **CENTRAL INDEX KEY:** 0001840877
- **STANDARD INDUSTRIAL CLASSIFICATION:** ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 861369123
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293369
- **FILM NUMBER:** 26618646

**BUSINESS ADDRESS:**
- **STREET 1:** 4875 WHITE BEAR PARKWAY
- **CITY:** WHITE BEAR LAKE
- **STATE:** MN
- **ZIP:** 55110
- **BUSINESS PHONE:** 651-361-8000

**MAIL ADDRESS:**
- **STREET 1:** 4875 WHITE BEAR PARKWAY
- **CITY:** WHITE BEAR LAKE
- **STATE:** MN
- **ZIP:** 55110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Anzu Special Acquisition Corp I
- **DATE OF NAME CHANGE:** 20210115

**As filed with the U.S. Securities and Exchange Commission on February 11, 2026**

**Registration No. 333-** 

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM S-1<br> REGISTRATION STATEMENT<br> UNDER<br> THE SECURITIES ACT OF 1933**

**Envoy Medical, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **3842** | **86-1369123** |
| (State or other jurisdiction of <br> incorporation or organization) | (Primary Standard Industrial <br> Classification Code Number) | (IRS Employer <br> Identification Number) |

---

**4875 White Bear Parkway**

**White Bear Lake, MN 55110**

**Tel: (877) 900-3277**

**(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)**

**Brent T. Lucas**

**Chief Executive Officer**

**Envoy Medical, Inc.**

**4875 White Bear Parkway**

**White Bear Lake, MN 55110**

**Tel: (877) 900-3277<br> (Name, address, including zip code, and telephone number, including area code, of agent for service)**

**With copies to:**

---

| | |
|:---|:---|
| **Andrew M Nick, Esq**. | **Steven M. Skolnick, Esq.** |
| **Fredrikson & Byron, P.A.** | **Lowenstein Sandler LLP** |
| **60 South Sixth Street; Suite 1500** | **1251 Avenue of the Americas** |
| **Minneapolis, MN 55402** | **New York, New York 10020** |
| **(612) 492-7000** | **(212) 262-6700** |

---

Approximate date of commencement of proposed sale to the public: From time to time after this Registration Statement becomes effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 (the "Securities Act") check the following box: ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ (333-292260)

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The Registration Statement shall become effective upon filing in accordance with Rule 462(b) promulgated under the Securities Act of 1933, as amended.**

**EXPLANATORY NOTE AND INCORPORATION BY REFERENCE**

This Registration Statement is being filed with the Securities and Exchange Commission (the "Commission") by Envoy Medical, Inc. (the "***Company***") pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the "***Securities Act***"), for the sole purpose of registering $13,437,500 of additional securities of the same classes as were included in the Prior Registration Statement (as defined below) and include additional shares of Class A Common Stock, par value $0.0001 per share (the "***Common Stock***"), Series A-1 Warrants, Series A-2 Warrants, Placement Agent Warrants, and the shares of Common Stock underlying all such warrants.

The contents of the Registration Statement on Form S-1, as amended (File No. 333-292260), filed by the Company with the Securities and Exchange Commission (the "Commission") pursuant to the Securities Act, including all amendments and exhibits thereto (the "Prior Registration Statement"), which was declared effective by the Commission on February 11, 2026, are incorporated by reference into this Registration Statement.

The additional securities that are being registered for issuance and sale are in an amount and at a price that together represent no more than 20% of the maximum aggregate offering price set forth in Exhibit 107 of the Prior Registration Statement.

The required opinion and consents are listed on an Exhibit Index attached hereto and filed herewith or incorporated by reference herein.

**Exhibit Index**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| 5.1 | [Opinion of Fredrikson & Byron, P.A.](ea027651701ex5-1_envoy.htm) |
| 23.1 | [Consent of Grant Thornton LLP](ea027651701ex23-1_envoy.htm) |
| 23.2 | [Consent of Fredrikson & Byron, P.A. (included as part of Exhibit 5.1)](ea027651701ex5-1_envoy.htm) |
| 24.1\* | [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1840877/000121390025123367/ea0268759-s1_envoy.htm#s_001) |
| 107 | [Filing Fee Table](ea027651701ex-fee_envoy.htm) |

---

(\*) Previously included on the signature page to the Prior Registration Statement, originally filed with the Securities and Exchange Commission on December 18, 2025 and incorporated by reference herein.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of White Bear Lake, State of Minnesota on February 11, 2026.

---

| | |
|:---|:---|
| **ENVOY MEDICAL, INC.** | **ENVOY MEDICAL, INC.** |
| /s/ Brent T. Lucas | /s/ Brent T. Lucas |
| Name: | Brent T. Lucas |
| Title: | Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Brent T. Lucas | Chief Executive Officer and Director | February 11, 2026 |
| Brent T. Lucas | (Principal Executive Officer) |  |
| \* | Interim Chief Financial Officer | February 11, 2026 |
| Robert Potashnick | (Principal Financial and Accounting Officer) |  |
| \* | Director | February 11, 2026 |
| Charles R. Brynelsen |  |  |
| \* | Director | February 11, 2026 |
| Michael Crowe |  |  |
| \* | Director | February 11, 2026 |
| Mona Patel |  |  |
| \* | Director | February 11, 2026 |
| Janis Smith-Gomez |  |  |
| \* | Director | February 11, 2026 |
| Susan J. Kantor |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
| \*By: | /s/ Brent T. Lucas | Date: | February 11, 2026 |
| Name: | Brent T. Lucas |  |  |
| Title: | Attorney-in-Fact |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

February 11, 2026

Envoy Medical, Inc.<br> 4875 White Bear Parkway<br> White Bear Lake, Minnesota 55110

Re: <u>Registration Statement on Form S-1 Filed Pursuant to Rule 462(b)</u>

To the addressee set forth above:

We have acted as transaction counsel to Envoy Medical, Inc., a Delaware corporation (the "***Company***"), in connection with the preparation and filing with the U.S. Securities and Exchange Commission (the "***Commission***"), pursuant to Rule 462(b) under the Securities Act of 1933, as amended (the "***Securities Act***"), of the Registration Statement on Form S-1 of the Company (the "***462(b) Registration Statement***") relating to the proposed offering of up to, relating to the issuance and sale by the Company of a maximum aggregate offering price of up to $13,437,500 of: (i) shares (the "***Shares***") of the Company's common stock, par value $0.0001 per share (the "***Common Stock***"), (ii) pre-funded warrants in lieu of the Shares to purchase shares of Common Stock (the "***Pre-Funded Warrants***"), (iii) accompanying Series A-1 warrants to purchase shares of Common Stock (the "***Series A-1 Warrants***") and accompanying Series A-2 warrants to purchase shares of Common Stock (the "***Series A-2 Warrants***"), (iv) warrants issuable to the placement agent or its designees to purchase shares of Common Stock (the "***Placement Agent Warrants***" and together with the Pre-Funded Warrants, the Series A-1 Warrants and the Series A-2 Warrants, the "***Warrants***"), and (v) the shares of Common Stock issuable upon exercise of the Warrants (the "***Warrant Shares***" and, together with the Common Stock and the Warrants, the "***Securities***"). The 462(b) Registration Statement adds securities to the securities registered under that certain Registration Statement on Form S-1 (File No. 333-292260) (the "***Registration Statement***"), which is incorporated by reference into the 462(b) Registration Statement, and the Securities will be sold pursuant to the prospectus contained in the Registration Statement (the "***Prospectus***").

In connection with rendering this opinion, we have reviewed the following, as presented, and represented as being such, to us by the Company: (i) the Company's Second Amended and Restated Certificate of Incorporation, as amended to date; (ii) the Company's Amended and Restated Bylaws, as amended to date; and (iii) certain resolutions of the Company's Board of Directors and committees thereof pertaining to the offer, sale and issuance by the Company of the Shares, the Warrants, and the Warrant Shares.

We have examined and relied upon the information set forth in the Registration Statement and the Prospectus and such other records, agreements, certificates, public officials, and documents as we have deemed necessary as a basis for the opinions expressed herein. In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the original of all documents submitted to us as copies thereof. As to certain matters of fact relevant to the opinions expressed below, we have, without independent verification or further inquiry, relied upon certificates and statements of officers of the Company.

Based upon and subject to the foregoing, we are of the opinion that (i) the Shares and the Warrant Shares have been duly authorized and, when issued and paid for in the manner described in the Registration Statement and the Prospectus, will be validly issued, fully paid and non-assessable and (ii) when the Warrants are duly executed and delivered by the Company and paid for by the purchasers in accordance with the terms of the Registration Statement and the Prospectus, such Warrants will constitute the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with their terms.

Without limiting any other qualifications set forth herein, the opinion expressed herein regarding the enforceability of the Warrants is subject to the effect of generally applicable laws that (i) provide for the enforcement of oral waivers or modifications where a material change of position in reliance thereon has occurred or provide that a course of performance may operate as a waiver; (ii) limit the availability of a remedy under certain circumstances where another remedy has been elected; (iii) limit the enforceability of provisions releasing, exculpating or exempting a party from, or requiring indemnification of a party for, liability for its own action or inaction, to the extent the action or inaction involves negligence, recklessness, willful misconduct or unlawful conduct; (iv) may, where less than all of a contract may be unenforceable, limit the enforceability of the balance of the contract to circumstances in which the unenforceable portion is not an essential part of the agreed exchange; (v) govern and afford judicial discretion regarding the determination of damages and entitlement to attorneys' fees and other costs; (vi) may permit a party who has materially failed to render or offer performance required by a contract to cure that failure unless either permitting a cure would unreasonably hinder the aggrieved party from making substitute arrangements for performance or it is important under the circumstances to the aggrieved party that performance occur by the date stated in the contract; (vii) may require mitigation of damages; (viii) provide a time limitation after which a remedy may not be enforced (i.e., statutes of limitation); and (ix) limit the enforceability of provisions of instruments or agreements that purport to require waiver of the obligations of good faith, fair dealing, diligence and reasonableness.

We express no opinion as to the enforceability or effect in the Warrants of (i) any agreement to submit to the jurisdiction of any particular court or other governmental authority (either as to personal jurisdiction or subject matter jurisdiction), any provision restricting access to courts (including without limitation agreements to arbitrate disputes), any waivers of the right to jury trial, any waivers of service of process requirements that would otherwise be applicable, any agreement that a judgment rendered by a court in one jurisdiction may be enforced in another jurisdiction, or any provision otherwise affecting the jurisdiction or venue of courts; (ii) any provision waiving legal, statutory or equitable defenses or other procedural, judicial or substantive rights; or (iii) any provision that authorizes one party to act as attorney-in-fact for another party.

With respect to our opinion regarding the Warrant Shares, we express no opinion to the extent that, notwithstanding the Company's current reservation of the maximum number of Warrant Shares as of the date hereof, future issuances of securities of the Company, including the Warrant Shares, and/or antidilution adjustments to outstanding securities of the Company, including the Warrants, may cause the Warrants to be exercisable for more shares of Common Stock than the number that then remain authorized but unissued. Further, we have assumed the exercise price (as defined in the Warrants) will not be adjusted to an amount below the par value per share of the Warrant Shares.

This opinion letter is intended solely for use in connection with the offer and sale of the Shares, the Warrants, and the Warrant Shares pursuant to the Registration Statement and the Prospectus, and no opinions may be inferred or implied beyond the matters expressly stated herein. The opinions expressed herein are rendered and speak only as of the date hereof and we specifically disclaim any responsibility to update such opinions subsequent to the date hereof or to advise you of subsequent developments affecting such opinions.

This opinion is limited to the Delaware General Corporation Law, other than with respect to the enforceability of the Warrants. We hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to the Registration Statement filed by the Company on the date hereof and the reference to our firm under the heading "Legal Matters" in the Registration Statement and Prospectus. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations promulgated thereunder by the Commission.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Fredrikson & Byron, P.A. | Fredrikson & Byron, P.A. |
| By: | /s/ Andrew Nick |
| Its: Vice President | Its: Vice President |

---

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We have issued our report dated March 28, 2025, with respect to the consolidated financial statements of Envoy Medical, Inc. contained in the Registration Statement on Form S-1, as amended (File No. 333-292260) which is incorporated by reference in this Registration Statement on Form S-1 MEF. We consent to the incorporation by reference of the aforementioned report in this Registration Statement, and to the use of our name as it appears under the caption "Experts" in the prospectus incorporated by reference in this Registration Statement.

/s/ Grant Thornton LLP

Fort Lauderdale, Florida<br> February 11, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-1**

**Envoy Medical, Inc.**

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Line Item Type** | **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* | *Newly Registered Securities* |
| Fees to be Paid | Equity | Class A Common Stock (Common Stock) | (1) | 457(o) |  | $| $5000000.00 | 0.0001381 | $690.50 |
| Fees to be Paid | Other | Pre-Funded Warrants | (2) | 457(o) |  |  | 0.00 | 0.0001381 | 0.00 |
| Fees to be Paid | Other | Series A-1 Warrants | (3) | 457(o) |  |  | 0.00 | 0.0001381 | 0.00 |
| Fees to be Paid | Other | Series A-2 Warrants | (4) | 457(o) |  |  | 0.00 | 0.0001381 | 0.00 |
| Fees to be Paid | Other | Placement Agent Warrants | (5) | 457(o) |  |  | 0.00 | 0.0001381 | 0.00 |
| Fees to be Paid | Equity | Common Stock underlying the Pre-Funded Warrants | (6) | 457(o) |  |  | 0.00 | 0.0001381 | 0.00 |
| Fees to be Paid | Equity | Common Stock underlying the Series A-1 Warrants | (7) | 457(o) |  |  | 3000000.00 | 0.0001381 | 414.30 |
| Fees to be Paid | Equity | Common Stock underlying the Series A-2 Warrants | (8) | 457(o) |  |  | 5000000.00 | 0.0001381 | 690.50 |
| Fees to be Paid | Equity | Common Stock underlying the Placement Agent Warrants | (9) | 457(o) |  | $| $437500.00 | 0.0001381 | $60.42 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $13437500.00 |  | 1855.72 |
| Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: | Total Fees Previously Paid: |  |  | 0.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $1855.72 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(9) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. The proposed maximum aggregate offering price of the shares of Common Stock proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants sold in the offering and the proposed maximum aggregate offering price of the Pre-Funded Warrants proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any shares of Common Stock sold in the offering, and, as such, the proposed maximum aggregate offering price of the shares of Common Stock and Pre-Funded Warrants (including the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants), if any, is $5,000,000. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. Pursuant to Rule 457(g) of the Securities Act, no separate registration fee is required for the warrants because the warrants are being registered in the same registration statement as the shares of Common Stock issuable upon exercise of the warrants. Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act. Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. As estimated solely for the purpose of calculating the amount of the registration fee in accordance with Rule 457(o) under the Securities Act, the proposed maximum aggregate offering price of the shares of Common Stock underlying the Placement Agent Warrants is $437,500, which is equal to 7.0% of the proposed maximum aggregate offering price of the shares of Common Stock to be sold in the offering at an exercise price equal to 125% of the combined public offering price per share of Common Stock and accompanying Series A-1 warrant and Series A-2 warrant.