Elutia Announces $15.0 Million Registered Direct Offering
Elutia (NASDAQ: ELUT) has announced a registered direct offering to raise $15.0 million through the sale of 5,520,000 shares of Class A common stock at $2.50 per share and 480,000 prefunded warrants at $2.499 per warrant. The prefunded warrants are immediately exercisable at $0.001 each.
The offering is expected to close around February 4, 2025, with Lake Street Capital Markets acting as the exclusive placement agent. The company plans to use the proceeds for working capital and general corporate purposes. The securities are being offered through an effective shelf registration statement previously filed with the SEC.
Elutia (NASDAQ: ELUT) ha annunciato un'offerta registrata diretta per raccogliere 15,0 milioni di dollari attraverso la vendita di 5.520.000 azioni di azioni ordinarie di Classe A a 2,50 dollari per azione e 480.000 opzioni prefinanziate a 2,499 dollari per opzione. Le opzioni prefinanziate sono immediatamente esercitabili a 0,001 dollari ciascuna.
Si prevede che l'offerta si concluda intorno al 4 febbraio 2025, con Lake Street Capital Markets che funge da agente di collocamento esclusivo. L'azienda prevede di utilizzare i proventi per il capitale circolante e per scopi aziendali generali. I titoli sono offerti tramite una dichiarazione di registrazione di scaffale efficace precedentemente depositata presso la SEC.
Elutia (NASDAQ: ELUT) ha anunciado una oferta directa registrada para recaudar 15.0 millones de dólares a través de la venta de 5,520,000 acciones de clase A a 2.50 dólares por acción y 480,000 opciones prefinanciadas a 2.499 dólares por opción. Las opciones prefinanciadas son inmediatamente ejercitables a 0.001 dólares cada una.
Se espera que la oferta se cierre alrededor del 4 de febrero de 2025, con Lake Street Capital Markets actuando como agente de colocación exclusivo. La empresa planea utilizar los ingresos para capital de trabajo y fines corporativos generales. Los valores se ofrecen a través de una declaración de registro en estantería efectivamente presentada ante la SEC.
Elutia (NASDAQ: ELUT)는 1500만 달러를 모금하기 위해 5,520,000주(클래스 A 보통주)를 주당 2.50달러에 판매하고 480,000개의 선지급 워런트를 워런트당 2.499달러에 판매하는 등록된 직접 제공을 발표했습니다. 선지급 워런트는 각각 0.001달러에 즉시 행사가 가능합니다.
이번 제공은 2025년 2월 4일경에 종료될 것으로 예상되며, Lake Street Capital Markets가 독점 배치 대행사로 활동하고 있습니다. 이 회사는 수익금을 운영 자본 및 일반 기업 목적에 사용할 계획입니다. 증권은 SEC에 이전에 제출된 유효한 선반 등록명세서를 통해 제공됩니다.
Elutia (NASDAQ: ELUT) a annoncé une offre directe enregistrée pour lever 15,0 millions de dollars par la vente de 5 520 000 actions ordinaires de classe A à 2,50 dollars par action et de 480 000 bons préfinancés à 2,499 dollars par bon. Les bons préfinancés sont immédiatement exerçables à 0,001 dollar chacun.
L'offre devrait se clôturer aux environs du 4 février 2025, Lake Street Capital Markets agissant en tant qu'agent de placement exclusif. L'entreprise prévoit d'utiliser les revenus pour son fonds de roulement et des fins corporatives générales. Les titres sont offerts par le biais d'une déclaration d'enregistrement de type étagère précédemment déposée auprès de la SEC.
Elutia (NASDAQ: ELUT) hat ein registriertes Direktangebot angekündigt, um 15,0 Millionen Dollar durch den Verkauf von 5.520.000 Aktien der Klasse A zu einem Preis von 2,50 Dollar pro Aktie und 480.000 vorfinanzierten Optionsscheinen zu einem Preis von 2,499 Dollar pro Optionsschein zu sammeln. Die vorfinanzierten Optionsscheine sind sofort zum Preis von 0,001 Dollar jeweils ausübbar.
Das Angebot wird voraussichtlich um den 4. Februar 2025 abgeschlossen, wobei Lake Street Capital Markets als exklusiver Platzierungsagent fungiert. Das Unternehmen plant, die Erlöse für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Die Wertpapiere werden über eine zuvor bei der SEC eingereichte wirksame Regalanmeldung angeboten.
- Secured $15.0 million in additional funding
- Offering conducted through registered direct offering, typically faster than traditional public offering
- Immediate access to working capital for operations
- Significant shareholder dilution through issuance of 5.52 million new shares
- Additional potential dilution from 480,000 prefunded warrants
- Offering price of $2.50 may represent a discount to market price
Insights
The $15 million registered direct offering by Elutia reveals several critical insights for investors. The offering's structure - combining 5.52 million common shares and 480,000 prefunded warrants at $2.50 per share - represents an approximately
The transaction's structure raises important considerations. The prefunded warrants, essentially functioning as deferred common stock with a nominal
The use of a shelf registration from September 2022 enabled quick execution, while the broad "working capital and general corporate purposes" designation for proceeds usage provides maximum flexibility but transparency. The selection of Lake Street Capital Markets as the exclusive placement agent, a boutique firm known for small-cap healthcare deals, suggests a targeted approach to institutional investors familiar with the space.
The timing and pricing of this offering could indicate near-term capital needs, as companies typically prefer to raise capital from a position of strength. Investors should monitor the company's upcoming financial reports to better understand the cash burn rate and how this capital injection affects the runway for operations.
SILVER SPRING, Md., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Elutia Inc. (Nasdaq: ELUT) (“Elutia” or the “Company”) today announced it has entered into a definitive agreement with investors for the purchase and sale of 5,520,000 shares of the Company’s Class A common stock at a purchase price of
Lake Street Capital Markets is acting as the exclusive placement agent for the offering.
Elutia intends to use the proceeds from the proposed offering for working capital and other general corporate purposes.
The securities are being offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267197) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on September 8, 2022. The offering of such securities is being made only by means of a prospectus supplement that forms a part of the registration statement. Copies of the prospectus supplement and accompanying base prospectus will be filed with the SEC and will be available free of charge on the SEC's website at http://sec.gov. Electronic copies of the prospectus supplement and accompanying base prospectus may also be obtained, when available, from Lake Street Capital Markets, LLC at 920 Second Avenue South, Unit 700, Minneapolis, MN 55402, or e-mail at prospectus@lakestreetcm.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the Company’s offering and the anticipated use of proceeds therefrom. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties, including those set forth in the Company’s filings with the SEC. The forward-looking statements in this press release speak only as of the date of this press release. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Contact:
Elutia, Inc.
IR@elutia.com
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