Allurion closes $48M convertible note deal with RTW; repays Fortress loan, extends cash runway

ALLURION TECHNOLOGIES, INC.

Issued $48M convertible senior secured notes to RTW to fully repay existing Fortress term loan.
Notes: 6% interest (in-kind first 3 years), maturity April 2031, conversion at 35% premium to lower of VWAP or next equity offering.
Amended Revenue Interest Financing Agreement: royalty rate increased to 12% on net sales (from 6%/10% previously).
Management expects extended cash runway ahead of AUDACITY FDA trial read-out anticipated by year-end.

item 1.01 item 1.02 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALLURION TECHNOLOGIES, INC. terminated Fortress Credit Agreement.

Action: termination
Agreement: credit facility

Exact text from the filing

The Company has terminated and repaid in full the outstanding borrowings and other obligations under the Fortress Credit Agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALLURION TECHNOLOGIES, INC. entered into Original Note Purchase Agreement with RTW Investments, LP, as agent for the purchasers, and Acquiom Agency Services LLC valued at $48 million (effective 2024-04-14).

Action: entry
Agreement: notes offering
Counterparty: RTW Investments, LP, as agent for the purchasers, and Acquiom Agency Services LLC
Value: $48 million
Effective: 2024-04-14

Exact text from the filing

On April 14, 2024, Allurion Technologies, Inc., a Delaware corporation (the “Company”), RTW Investments, LP (“RTW”), as agent for the purchasers (the “Purchasers”) party thereto from time to time (RTW in such capacity, the “Principal Purchaser”), and Acquiom Agency Services LLC (“Acquiom”), as collateral agent for the Purchasers and the Principal Purchaser, entered into a Note Purchase Agreement (the “Original Note Purchase Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALLURION TECHNOLOGIES, INC. amended First Amendment to the Original Note Purchase Agreement with RTW Investments, LP, as agent for the purchasers, and Acquiom Agency Services LLC (effective 2024-04-16).

Action: amendment
Agreement: notes offering
Counterparty: RTW Investments, LP, as agent for the purchasers, and Acquiom Agency Services LLC
Effective: 2024-04-16

Exact text from the filing

Subsequently, on April 16, 2024, the Company, the Principal Purchaser, the Purchasers and Acquiom entered into the First Amendment to the Original Note Purchase Agreement (the “Amendment”; the Original Note Purchase Agreement, as amended by the Amendment, the “Amended Note Purchase Agreement”).

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419 material agreements filed in the last 30 days. Browse all material agreements →

ALLURION TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-045168

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