Elutia Inc. (ELUT): SilverArc Capital reports 4.9% stake in Class A shares

Rhea-AI Filing Summary

SilverArc Capital Management, LLC and Devesh Gandhi report their beneficial ownership of 2,192,980 shares of Elutia Inc. Class A common stock on an amended Schedule 13G. This position represents 4.9% of the class, reported as beneficially owned by each of the reporting persons.

Both SilverArc and Gandhi report no sole voting or dispositive power over Elutia shares, and instead disclose shared voting and shared dispositive power over 2,192,980 shares. The filing characterizes their holdings as ownership of 5 percent or less of the class.

Key Figures

Beneficially owned shares: 2,192,980 shares Percent of class: 4.9% Shared voting power: 2,192,980 shares +2 more

5 metrics

Beneficially owned shares 2,192,980 shares Class A Common Stock beneficially owned by each reporting person

Percent of class 4.9% Percentage of Elutia Inc. Class A Common Stock reported as beneficially owned

Shared voting power 2,192,980 shares Shares over which the reporting persons have shared power to vote or direct the vote

Sole voting power 0 shares Shares over which the reporting persons have sole power to vote or direct the vote

Shared dispositive power 2,192,980 shares Shares over which the reporting persons have shared power to dispose or direct disposition

Key Terms

beneficially owned, shared voting power, shared dispositive power, percent of class

4 terms

beneficially owned financial

"Amount beneficially owned: 2192980"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared Voting Power 2,192,980.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 2,192,980.00"

percent of class financial

"Percent of class: 4.9 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of Elutia Inc. (ELUT) does SilverArc Capital Management report owning?

SilverArc Capital Management and Devesh Gandhi report beneficial ownership of 4.9% of Elutia Inc. Class A common stock, corresponding to 2,192,980 shares reported as jointly beneficially owned.

How many Elutia Inc. (ELUT) shares are beneficially owned by SilverArc and Devesh Gandhi?

SilverArc Capital Management and Devesh Gandhi report beneficial ownership of 2,192,980 shares of Elutia Inc. Class A common stock, with shared voting and dispositive power over all of these shares.

Do SilverArc and Devesh Gandhi have sole or shared voting power over ELUT shares?

They report 0 shares with sole voting power and 2,192,980 shares with shared voting power, matching the number for which they also report shared dispositive power over Elutia Inc. stock.

What does the Schedule 13G/A for Elutia Inc. (ELUT) indicate about 5% ownership?

The filing states a 4.9% beneficial ownership of Elutia Inc. Class A common stock and includes the disclosure "Ownership of 5 percent or less of a class," confirming the reported stake is at or below that threshold.

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

The reporting persons are SilverArc Capital Management, LLC, a Delaware limited liability company, and Devesh Gandhi, a U.S. citizen, who together report beneficial ownership and shared voting and dispositive power over 2,192,980 Elutia shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 12:47 PM Accepted by SEC EDGAR 08/14/2026 - 12:46 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

ELUTIA INC.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

05479K106

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 05479K106

1

Names of Reporting Persons

SilverArc 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 0.00
6	Shared Voting Power 2,192,980.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,192,980.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,192,980.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 05479K106

1

Names of Reporting Persons

Devesh Gandhi

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 0.00
6	Shared Voting Power 2,192,980.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,192,980.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,192,980.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ELUTIA INC.
(b)	Address of issuer's principal executive offices: 20 Firstfield Road, Gaithersburg, MD 20878
Item 2.
(a)	Name of person filing: SilverArc Capital Management, LLC ("SilverArc") and Devesh Gandhi ("Gandhi" and together with SilverArc, the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: 20 Park Plaza, Suite 620 Boston, MA 02116
(c)	Citizenship: SilverArc is a Delaware limited liability company. Gandhi is a citizen of the United States.
(d)	Title of class of securities: Class A 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: 2192980
(b)	Percent of class: 4.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2192980
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2192980
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.

SilverArc Capital Management, LLC

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	08/10/2026

Devesh Gandhi

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	08/10/2026