13D Filing: Discovery Group I, LLC and Entellus Medical Inc (ENTL)

Item 1.

Security and Issuer

This Amendment No. 4 to Schedule 13D (“Amendment No. 4”) relates to the
Common Stock, par value $0.001 per share (the “Common Stock”), of Entellus Medical, Inc., a Delaware corporation
(the “Company”), which has its principal executive offices at 3600 Holly Lane North, Suite 40, Plymouth,
MN 55447.  This Amendment No. 4 amends and supplements, as set forth below, the information contained in items 1,
3, 5 and 6 of the Schedule 13D filed by the Reporting Persons with respect to the Company on March 6, 2017, as amended by
Amendment No. 1 thereto filed by the Reporting Persons with respect to the Company on March 14, 2017, as amended by Amendment
No. 2 thereto filed by the Reporting Persons with respect to the Company on March 28, 2017, and as amended by Amendment No.
3 thereto filed by the Reporting Persons with respect to the Company on May 8, 2017 (as so amended, the “Schedule
13D”).  All capitalized terms used herein but not defined herein have the meanings set forth in the Schedule
13D.  Except as amended by this Amendment No. 4, all information contained in the Schedule 13D is, after reasonable
inquiry and to the best of the Reporting Persons’ knowledge and belief, complete and correct as of the date of this
Amendment No. 4.

Item 3.

Source and Amount of Funds or Other Consideration

Item 3 of the Schedule 13D is
hereby amended to read in its entirety as follows:

The total purchase price for the
2,163,929 shares of Common Stock beneficially owned by the Reporting Persons as of August 21, 2017 was approximately $31,973,385.
The source of such funds was the assets of Discovery Equity Partners, including proceeds of margin loans under margin
loan facilities maintained in the ordinary course of business by Discovery Equity Partners with a broker on customary
terms and conditions. Discovery Equity Partners is the legal owner of all of the Common Stock beneficially owned by Discovery
Group.

13D Filing: Discovery Group I, LLC and Entellus Medical Inc (ENTL)

Published on August 23, 2017 at 1:28 pm by Insider Monkey Staff in Hedge Funds

Page 4 of 8 – SEC Filing

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