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Gregg Williams, a director and 10% owner of Vivani Medical, Inc. (NASDAQ:VANI), acquired 3,703,703 shares of common stock at a price of $1.62 on October 27, 2025. The total value of the purchase amounted to $5,999,998. The transaction comes as the $94.2 million market cap company trades near its 52-week high of $1.80, having surged approximately 61% over the past six months. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with technical indicators suggesting overbought conditions.
Following the transaction, Williams directly and indirectly owns a total of 26,150,015 shares. This includes 4,799,200 directly owned shares, 19,225,063 shares held by the Gregg G. Williams 2006 Trust, 1,212,856 shares held by Williams International Co. LLC, 181,587 shares held by Sam Williams Family Investments LLC, and 731,309 shares held by the Sam B. Williams 1995 Generation-Skipping Trust. Williams has voting and dispositive power over all of these shares. The significant insider purchase comes as the company faces challenges, with an EBITDA of -$26.38 million in the last twelve months. Track more insider moves and access 10+ additional key insights with InvestingPro.
In other recent news, Vivani Medical announced the pricing of a registered direct offering and a concurrent private placement, anticipated to raise approximately $15.7 million in gross proceeds. The company is offering 6 million shares of common stock at $1.62 per share, with Board Chairman Gregg Williams purchasing an additional 3.7 million shares at the same price through a private placement. Additionally, Vivani Medical has temporarily delayed the record date for its planned spin-off of Cortigent, Inc., citing the ongoing U.S. federal government shutdown as the cause for the delay. The company intends to announce a new record date soon. Meanwhile, H.C. Wainwright has reiterated a Buy rating with a $4.00 price target on Vivani Medical, following the company’s announcement of clinical development plans for its semaglutide implant, NPM-139. Vivani Medical plans to initiate a Phase 1 clinical study for NPM-139 in the first half of 2026, pending regulatory clearance. The company has also secured $10 million in equity financing to accelerate the development of NPM-139, with shares priced at $1.26 each, further extending its financial runway into the second half of 2026.
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