Allurion Closes $48 Million Convertible Senior Secured Note Financing with RTW Investments [Yahoo! Finance]
Allurion Technologies, Inc. (ALUR)
Company Research
Source: Yahoo! Finance
Extends expected cash runway in advance of AUDACITY FDA trial read-out Strengthens long-term partnership with RTW Investments NATICK, Mass., April 17, 2024 BUSINESS WIRE )--Allurion Technologies, Inc. (NYSE: ALUR) ("Allurion" or the "Company"), a company dedicated to ending obesity, today announced the closing of a $48 million convertible senior secured note financing with certain entities managed by RTW Investments, LP ("RTW"). Proceeds will be used to repay in full the Company's obligations under its existing term loan with Fortress Credit Corp., reducing the Company's interest expense and increasing operational flexibility. Management anticipates this transaction will better position the business for the future. Of note, the convertible notes reduce the interest rate on the Company's debt to 6%, lengthen the maturity over Allurion's existing term loan by nearly four years, from June 2027 to April 2031, and allow for interest payments to be made in-kind for the first three ye
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ALUR
News
- Allurion Announces Three Scientific Presentations at IFSO-European Chapter 2024, Including First-Ever 3-Year Weight Maintenance SurveyBusiness Wire
- Allurion Announces Preliminary First Quarter 2024 ResultsBusiness Wire
- Allurion Closes $48 Million Convertible Senior Secured Note Financing with RTW InvestmentsBusiness Wire
- Allurion Expands Virtual Care Suite to the United States [Yahoo! Finance]Yahoo! Finance
- Allurion Technologies Inc. (NYSE: ALUR) is now covered by analysts at Chardan Capital. They set a "buy" rating and a $5.00 price target on the stock.MarketBeat
ALUR
Earnings
- 3/21/24 - Beat
ALUR
Sec Filings
- 5/7/24 - Form 4
- 5/6/24 - Form 4
- 4/30/24 - Form 8-K
- ALUR's page on the SEC website