---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016017"
form_type: "8-K"
ticker: "ELDN"
cik: "0001404281"
company_name: "Eledon Pharmaceuticals, Inc."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T04:46:47.317317+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Eledon secures up to $185M financing led by BVF and Armistice for tegoprubart kidney transplant trials

## Summary
- Upfront $35M private placement (15.2M shares + warrants at $2.31/share); potential $105M milestone tranches and $45M warrant exercise.
- Lead placement agent SVB Securities; co-agents Cantor, LifeSci Capital, Noble Capital Markets.
- CEO Dr. Gros gets amended retention bonus: pro-rata $6M–$10M if market value >=$600M; additional equity incentives tied to milestones.
- Board director Gary Lyons retiring at 2023 annual meeting; not standing for re-election.
- Proceeds to fund Phase 2 BESTOW trial evaluating tegoprubart in kidney transplant rejection prevention.

## SEC filing metadata
- accession: 0000950170-23-016017
- form_type: 8-K
- ticker: ELDN
- cik: 0001404281
- company_name: Eledon Pharmaceuticals, Inc.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/0000950170-23-016017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/eldn-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016017
- JSON: https://secwatch.observer/filing/0000950170-23-016017.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016017.txt

## Key facts
- Executive change
  Gary A. Lyons departed as Director at Eledon Pharmaceuticals, Inc..
  - Action: retiring
  - Role: Director
  source text: On April 26, 2023, Gary A. Lyons notified the Company that he is retiring from the Board of Directors of the Company at the end of his term and will not be standing for election at the Company’s 2023 annual meeting of stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/0000950170-23-016017-index.htm
- Material Agreements
  Eledon Pharmaceuticals, Inc. entered into Registration Rights Agreement with Institutional and accredited investors valued at Company to file registration statement within 20 days, use best efforts to have it declared effectiv (effective 2023-04-28).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Institutional and accredited investors
  - Value: Company to file registration statement within 20 days, use best efforts to have it declared effectiv
  - Effective: 2023-04-28
  source text: In connection with the Private Placement, the Company entered into a registration rights agreement, dated April 28, 2023 (the “Registration Rights Agreement”), with the Purchasers, pursuant to which, among other things, the Company will (i) prepare and file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-3 to register for resale the Shares and the shares of Common Stock issuable upon the exercise of the Warrants within 20 calendar days, and (ii) use its reasonable best efforts to have the registration statement declared effective promptly after filing, and in any event no later than 60 days after the date of the Securities Purchase Agreement (or 90 days after the date of the Securities Purchase Agreement if the registration statement is reviewed by the SEC).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/0000950170-23-016017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.