Allurion Technologies announced the completion of its business combination with Compute Health Acquisition.
Allurion stock and warrants began trading today on the New York Stock Exchange under the new ticker symbols ALUR and ALUR WS. The business combination was approved by Compute Health’s stockholders on July 28.
Net proceeds totaled approximately $100 million, easily surpassing the $70 million minimum cash closing condition. Proceeds included a PIPE led by RTW Investments, equity investments from Medtronic and Former Medtronic CEO and Chairman Omar Ishrak, a non-dilutive, synthetic royalty financing from certain entities that have engaged RTW Investments as investment manager, and a senior secured term loan from an affiliate of Fortress Investment Group.
Allurion also has access to a $100 million equity facility with Chardan Capital Markets.
Allurion developed a gastric balloon that patients swallow to manage and treat obesity without surgery.
Jefferies acted as exclusive financial advisor and exclusive capital markets advisor to Allurion and Goodwin Procter was legal advisor to Allurion. Kirkland & Ellis acted as legal advisor to Jefferies. Credit Suisse Securities (USA) was exclusive financial advisor, exclusive capital markets advisor and exclusive placement agent to Compute Health. Skadden, Arps, Slate, Meagher & Flom were legal advisor to Compute Health. Davis Polk & Wardwell acted as legal advisor to Credit Suisse. Read more.
