Director Williams Gregg, a ten percent owner of Vivani Medical, Inc. (NASDAQ:VANI), purchased 1,351,351 shares of common stock at $1.48 per share on January 27, 2026. The total consideration for the private placement was $1,999,999. This transaction occurred against a backdrop of recent downward pressure on the stock - InvestingPro data indicate VANI shares declined roughly 8.6% over the prior week, although the stock remains almost 17% higher year-over-year.
After the January 27 transaction, Williams Gregg holds 4,799,200 shares directly and 27,915,460 shares indirectly. The acquisition is notable given third-party analysis highlighting financial vulnerabilities at Vivani Medical: a health score of 1.7, a current ratio reported at 0.61, and negative earnings per share of $0.44. At the same time, sell-side analysts cited in available data maintain price targets in the $4 to $7 range, implying sizable upside from the stock's trading level at the time of the purchase.
The insider purchase was executed in tandem with company fundraising activity. Vivani Medical completed a registered direct offering and a concurrent private placement that together generated approximately $4.5 million in gross proceeds. As part of the registered direct offering, the company sold 1,689,200 shares of common stock at $1.48 per share. Concurrently, the private placement included the 1,351,351-share purchase by Williams Gregg at the same $1.48 price.
These transactions follow an earlier at-market offering that raised about $15.7 million in gross proceeds. In that earlier offering, Vivani Medical sold 6 million shares at $1.62 per share via a registered direct offering, and Williams purchased 3.7 million shares in a private placement at the identical $1.62 price. Taken together, the sequence of equity raises and insider purchases shows the company actively engaging the capital markets to fund its stated research efforts.
Observers should note that the company has combined multiple equity financings with insider participation while operating with stressed liquidity metrics and negative profitability. The juxtaposition of fresh capital, substantial insider buying, and lingering financial weaknesses frames the current investor picture for Vivani Medical.
Context and implications
The recent private placement and registered direct offering increased the companys cash resources while also bringing incremental dilution to existing holders. Williams Gregg's purchase in the private placement represents a material insider allocation and increases his direct stake in the business. Analysts maintaining mid-single-digit to mid-single-digit-plus price targets remain meaningfully above the trading price that prompted the insider purchase and the recent offerings.