secwatch.observer — SEC 8-K summary
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Issuer:     Eargo, Inc. (—)
CIK:        0001719395
Form:       8-K
Filed at:   2022-11-29T23:59:59+00:00
Accession:  0001140361-22-043474
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.04, 3.02, 5.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patient Square Capital becomes majority owner of Eargo with 76.3% stake after notes conversion and rights offering
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- Patient Square now holds ~316.4M shares (76.3% of outstanding common stock) after converting ~$105.5M in notes.
- Rights offering raised ~$29.3M gross from stockholders; total net proceeds ~$32.3M including Patient Square's additional $5.5M.
- Company has no debt for borrowed money outstanding following note conversion; proceeds earmarked for working capital and omni-channel growth.
- Conversion of notes and rights offering issued 375M new shares; Patient Square's ownership triggers board nomination rights proportional to stake.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1719395/000114036122043474/0001140361-22-043474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1719395/000114036122043474/brhc10044790_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-043474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer