Obalon Therapeutics Garners $75,000,000 New Funding Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fd03a854-ef31-42b4-b989-7d19a53c438b
Date
10/5/2016
Company Name
Obalon Therapeutics
Mailing Address
5421 Avenida Encinas Carlsbad, CA 92008 USA
Company Description
The Obalon (NASDAQ: OBLN) balloon assists with weight loss by helping you feel full sooner and eat less. This, along with diet and exercise, jump-starts your efforts, proving that when it comes to losing weight, less is truly more.
Website
http://www.obalon.com
Transaction Type
IPO
Transaction Amount
$75,000,000
Transaction Round
Undisclosed
Proceeds Purposes
We currently intend to use the net proceeds we receive from this offering as follows: approximately $33.0 million to $40.0 million for the commercialization of our Obalon balloon system, including $30.0 million to $35.0 million for the development of our sales and marketing infrastructure and $3.0 million to $5.0 million for the expansion of our manufacturing facilities; approximately $13.0 million to $15.0 million for continued research and development efforts; and the remaining for working capital and other general corporate purposes.
M&A Terms