ACON News & Events

Ephraim Fields of Echo Lake Capital sent a letter to David Neal, a member of the Board of Directors of Aclarion. The letter read, in part, "We believe we are one of the largest shareholders of Aclarion. We believe that on numerous occasions you have failed to fulfill your fiduciary responsibility to act in the best interests of shareholders and that your actions have directly contributed to the staggering losses suffered by shareholders. You were a board director of ACON when it went public in 2022 at split-adjusted price of $620,000 per share...the stock now trades at $3.12 per share, down over 99%. Even worse, while shareholders have suffered tremendous losses, you have repeatedly enriched yourself by taking excessive compensation from this tiny, unprofitable company. Since 2021 you have accepted over $240,000 in compensation from the company for board services. Even worse, last year you accepted a 20% pay increase. We can only wonder how you justify your compensation to ACON's long-suffering shareholders. While we find your compensation to be wildly excessive, we are also dismayed that despite being on the board of directors for over nine years, you currently own only 2 shares of ACON stock. Considering how few shares you own, we wonder how motivated you truly are to act in the best interests of ACON shareholders...We understand the significant financial benefits you derive from being on ACON's board, but we don't believe you possess the appropriate qualifications to serve on the board. Professionally for the past 20+ years you have been providing financial advice to high-net-worth individuals, which requires a very different skill set than advising ACON. You have no other public company board experience and you appear to have limited other relevant experience. You are not an MD, MBA or a CPA. Considering your lack of financial incentives to create shareholder value, your questionable skill set and your disappointing performance to date, we believe it is in shareholders' best interest if you resign immediately. We were disappointed you refused to respond to the private email we sent you last week, but we are not surprised since we believe you have little regard for ACON shareholders. ACON's stock now trades at a significant discount to its net cash, from which we infer that we are not the only investors who have no confidence in you. Finally, we believe there are many steps you and the board could easily implement that would create immediate and significant shareholder value and that any respectable board would have already implemented these steps. Unfortunately, rather than running ACON for the benefit of the shareholders you purport to represent, you appear more interested in using ACON as a vehicle to enrich yourself."

Aclarion announced that its Board of Directors has unanimously adopted a limited duration stockholder rights plan. The Rights Plan is effective immediately and expires in one year. The Rights Plan is intended to enable all stockholders to realize the long-term value of their investment in Aclarion. The Rights Plan is also intended to reduce the likelihood that any person or group gains control of the Company without paying all stockholders an appropriate control premium. The Rights Plan will help to ensure the Board has sufficient time to make informed decisions that are in the best interest of Aclarion and its stockholders. The Rights Plan applies equally to all current and future stockholders. The Rights Plan was not adopted in response to any specific proposal to acquire control of the Company and is not intended to deter offers or preclude the Board from considering offers that are fair and otherwise in the best interests of all the Company's stockholders.

Aclarionpublished a shareholder letter from CEO Brent Ness providing an update on the company's recent momentum and value-creating priorities for 2026. The letter highlights Aclarion's "continued momentum" in expanding adoption of its Nociscan platform, growing clinical evidence, and advancing reimbursement initiatives in both the U.K. and the U.S. The update also highlights the company's ongoing CLARITY clinical trial, expansion of commercial engagement with physicians and imaging centers, and its balance sheet supporting continued execution. "Our focus in 2026 remains disciplined execution against the key catalysts that we believe can expand adoption of Nociscan and strengthen the clinical and reimbursement foundation of our business," said CEO Brent Ness. "With increasing physician engagement, growing clinical evidence, and continued progress with payers, we believe Aclarion is well positioned to advance our mission of building a scalable technology platform for chronic low back pain while creating long-term value for patients and shareholders."

Aclarion announced the closing of a $10.4M common-stock-only financing at $5.18 per share in a clean capital raise structure. The transaction materially strengthens Aclarion's balance sheet, preserves capital structure integrity, and significantly extends the company's operating runway well past targeted near and medium-term catalysts while enhancing strategic flexibility as Nociscan continues to gain clinical and commercial traction. The company believes its strengthened capital position fully supports continued execution across commercialization, evidence generation, and strategic partnerships in the lead up toward additional payor coverage. The company has $21.6M in cash as of January 12 and zero debt. Its cash runway is extended into 2028 based on current operating plans.