Patient Square Capital Becomes Majority Owner of Eargo, Inc.
November 29, 2022
Patient Square Capital became the majority equity owner of Eargo, Inc. after converting its senior secured convertible notes and participating in Eargo’s rights offering. The transaction leaves Eargo debt-free, gives Patient Square approximately 76.3% of outstanding common stock, and raises roughly $32.3 million of net proceeds to support working capital and the company’s omni-channel growth strategy.
- Buyers
- Patient Square Capital
- Targets
- Eargo, Inc.
- Industry
- Medical Devices
- Location
- California, United States
- Transaction Type
- Recapitalization
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