Hearing aid manufacturer Eargo files for a $100 million IPO

Eargo, which manufactures differentiated hearing aid systems, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Eargo believes its hearing aids are the first and only virtually invisible, rechargeable, completely-in-canal, FDA regulated, exempt Class I device for the treatment of hearing loss. The company has sold over 42,000 hearing aid systems, net of returns, as of June 30, 2020.

The San Jose, CA-based company was founded in 2010 and booked $47 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol EAR. Eargo filed confidentially on November 8, 2019. J.P. Morgan, BofA Securities, Wells Fargo Securities and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Hearing aid manufacturer Eargo files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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