Elutia Announces $13.26 Million Registered Direct Offering
SILVER SPRING, Md., June 17, 2024 (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 3,175,000 shares of the Company’s Class A common stock at a purchase price of $3.40 per share and 725,000 prefunded warrants to purchase up to 725,000 shares of the Company’s Class A common stock at a purchase price of $3.399 per prefunded warrant in a registered direct offering. The prefunded warrants are immediately exercisable at an exercise price of $0.001 per each prefunded warrant. The gross proceeds to Elutia from the offering are expected to be approximately $13.26 million, before deducting placement agent fees and other offering expenses payable by Elutia. The offering is expected to close on or about June 18, 2024, subject to customary closing conditions.