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

  • Feed Type
  • 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

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