AIGH-linked investors report 7.6% Elutia (ELUT) stake in 13G/A

Rhea-AI Filing Summary

Elutia Inc. (ELUT) received an updated ownership report from AIGH-related entities. AIGH Capital Management LLC, AIGH Investment Partners LLC and Orin Hirschman together report beneficial ownership of 3,068,185 shares of Elutia common stock, representing 7.6% of the class as of the event date.

The filing notes sole voting and dispositive power over these 3,068,185 shares and no shared power. It also states that this percentage excludes warrants to purchase 1,300,000 additional shares that are not currently exercisable because of beneficial ownership limitations. The reporting holders certify the position is held in the ordinary course and not to change or influence control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Elutia Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05479K106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 05479K106

1

Names of Reporting Persons

Orin Hirschman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,068,185.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,068,185.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,068,185.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 05479K106

1

Names of Reporting Persons

AIGH Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,068,185.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,068,185.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,068,185.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Elutia Inc.
(b)	Address of issuer's principal executive offices: 12510 Prosperity Drive Suite 370, Silver Spring, MD, 20904
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed by each of the following persons pursuant to Rule 13d-1 promulgated by the Securities and Exchange Commission pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Act"): (i) AIGH Capital Management, LLC, a Maryland limited liability company ("AIGH CM"), as an Advisor or Sub-Advisor with respect to shares of Common Stock (as defined in Item 2(d) below) held by AIGH Investment Partners, L.P., and WVP Emerging Manger Onshore Fund, LLC - AIGH Series. (ii) AIGH Investment Partners, L.L.C., a Delaware limited liability company ("AIGH LLC";), with respect to shares of Common Stock (as defined in Item 2(d) below) directly held by it; (iii) Mr. Orin Hirschman ("Mr. Hirschman"), who is the Managing Member of AIGH Capital Management, LLC and president of AIGH LLC, with respect to shares of Common Stock (as defined in Item 2(d) below) indirectly held through AIGH CM, directly by AIGH LLC and Mr. Hirschman and his family directly. AIGH Capital Management LLC., AIGH Investment Partners LLC, and Mr. Hirschman are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.
(b)	Address or principal business office or, if none, residence: The principal office and business address of AIGH Capital Management LLC, AIGH Investment Partners LLC, and Mr.Hirschman is: 6006 Berkeley Avenue, Baltimore MD 21209
(c)	Citizenship: See Item 2(a) above and Item 4 of each cover page.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 05479K106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,068,185 Excludes warrants to purchase 1,300,000 common shares not currently exercisable due to beneficial ownership limitations on exercise
(b)	Percent of class: 7.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,068,185
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,068,185 Excludes warrants to purchase 1,300,000 common shares not currently exercisable due to beneficial ownership limitations on exercise
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Orin Hirschman

Signature:	/s/ Orin Hirschman
Name/Title:	Orin Hirschman
Date:	01/28/2026

AIGH Capital Management LLC

Signature:	/s/ Orin Hirschman
Name/Title:	Orin Hirschman, Managing Member
Date:	01/28/2026

FAQ

What stake in Elutia Inc. (ELUT) is reported in this Schedule 13G/A?

The filing reports beneficial ownership of 3,068,185 Elutia common shares, representing 7.6% of the outstanding class. The reporting persons have sole voting and dispositive power over these shares, with no shared power disclosed in the document.

Who are the reporting persons in the Elutia (ELUT) Schedule 13G/A amendment?

The filing is jointly made by AIGH Capital Management LLC, AIGH Investment Partners LLC, and Orin Hirschman. Hirschman is Managing Member of AIGH Capital Management LLC and president of AIGH Investment Partners LLC, and they are collectively referred to as the reporting persons.

Does the Elutia (ELUT) Schedule 13G/A include any warrant holdings?

Yes. The ownership section notes warrants to purchase 1,300,000 additional common shares, but these are excluded from the beneficial ownership calculation because they are not currently exercisable due to beneficial ownership limitations.

Is the 7.6% Elutia (ELUT) position reported as passive or for control purposes?

The reporting persons certify the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Elutia, except for activities tied to certain nomination rules.

What voting and dispositive powers are reported over Elutia (ELUT) shares?

The filing states sole voting power over 3,068,185 shares and sole dispositive power over the same 3,068,185 shares. It reports no shared voting or shared dispositive power for the reporting persons.

What is the event date for the Elutia (ELUT) ownership information in this filing?

The date of the event requiring this Schedule 13G/A filing is December 31, 2025. The reported holdings and percentage ownership of Elutia common stock are stated as of that event date in the ownership section.