Allurion to Eliminate Debt Through Exchange for Convertible Preferred Stock
Reuters
Nov 11
Allurion to Eliminate Debt Through Exchange for Convertible Preferred Stock
Allurion Technologies Holdings Inc. has announced a transaction to exchange all of its outstanding debt and obligations under its Revenue Interest Financing Agreements for shares of newly created Series B Convertible Preferred Stock. This exchange would result in the company being debt-free. The Series B Preferred Stock will be convertible into shares of common stock under certain circumstances. This move is part of Allurion's strategy to strengthen its financial position as it seeks FDA approval for its Allurion Smart Capsule.
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