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 completed the issuance of $100 million aggregate principal amount of senior secured convertible notes to Patient Square Capital on June 28, 2022 (the “First Tranche Investment”).
The Company used approximately $16.3 million of the net proceeds to repay all existing third-party indebtedness and related pay-off expenses, and intends to use the remaining net proceeds for working capital purposes and to fund the Company’s general business requirements.
https://finance.yahoo.com/news/eargo-closes-first-tranche-investment-200100383.html
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