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Lilman72003

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Lilman72003

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Monday, 10/30/2023 2:45:07 PM

Monday, October 30, 2023 2:45:07 PM

Post# of 156
Eargo to Be Taken Private by Patient Square Capital
Mentioned: EAR

By Dean Seal

Eargo has agreed to be acquired and privatized by the investment firm Patient Square Capital for $2.55 a share.

The hearing aid company said Monday the deal represents a 52% premium over its closing share price on Friday.

Eargo's board approved the transaction after it was unanimously recommended by a special committee.

The deal is expected to close in the first quarter of 2024. Upon closing, Eargo's shares will no longer be publicly traded.

The acquisition comes less than a week after Eargo said its devices will now be sold at over 500 Best Buy locations.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires
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