secwatch.observer — SEC 8-K summary
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Issuer:     Eledon Pharmaceuticals, Inc. (ELDN)
CIK:        0001404281
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0000950170-23-016017
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/0000950170-23-016017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1404281/000095017023016017/eldn-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-016017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer