SAN JOSE, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Eargo, Inc. (Nasdaq:EAR) (the “Company”), a medical device company on a mission to improve the quality of life of people with hearing loss, today announced it has signed a definitive agreement with Patient Square Capital (“Patient Square”) to raise $100 million through the sale of senior secured convertible notes, with an additional $25 million future investment subject to certain conditions. The Company intends to use the net proceeds of Patient Square’s investment for working capital purposes, to fund the Company’s omni-channel growth strategy and to repay all of the Company’s approximately $15 million in existing third-party debt as well as related pay-off expenses.
Eargo Strengthens Financial Position with up to $125 Million Strategic Investment from Patient Square Capital
Globe Newswire - Press Release
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