---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-124337"
form_type: "8-K"
ticker: "ELUT"
cik: "0001708527"
company_name: "ELUTIA INC."
filed_at: "2022-12-05T23:59:59+00:00"
generated_at: "2026-06-21T09:40:57.187246+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aziyo Biologics offers 2.35M shares at $4.75, netting ~$9.84M; gets $4M loan

## Summary
- Public offering of 2,350,000 shares at $4.75/share; expected net proceeds ~$9.84M after discounts and expenses.
- Underwriter Cantor Fitzgerald granted 30-day option to purchase up to 352,500 additional shares.
- Credit agreement amended to allow $4M term loan subject to equity raise of at least $10M net proceeds (satisfied by offering).
- Proceeds planned for product development, clinical research, sales hiring, and working capital.
- Loan amendment also requires Aziyo to make Chief Scientific Officer available for FDA status discussions on CanGaroo RM.

## SEC filing metadata
- accession: 0001104659-22-124337
- form_type: 8-K
- ticker: ELUT
- cik: 0001708527
- company_name: ELUTIA INC.
- filed_at: 2022-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708527/000110465922124337/0001104659-22-124337-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708527/000110465922124337/tm2231343d4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-124337
- JSON: https://secwatch.observer/filing/0001104659-22-124337.json
- Plain text: https://secwatch.observer/filing/0001104659-22-124337.txt

## Key facts
- Debt Financings
  ELUTIA INC. incurred term loan of $4 million with SWK Funding LLC, as agent.
  - Instrument: term loan
  - Principal: $4 million
  - Counterparty: SWK Funding LLC, as agent
  - Event: incurrence
  source text: Pursuant to the Amendment Letter, the lenders under the Credit Agreement agreed to fund the additional term loan of $4 million (the “Subsequent Term Loan”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922124337/0001104659-22-124337-index.htm
- Material Agreements
  ELUTIA INC. amended Amendment Letter to Credit Agreement dated as of August 10, 2022 with SWK Funding LLC valued at additional term loan of $4 million funded subject to conditions including equity raise condition (effective 2022-11-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: SWK Funding LLC
  - Value: additional term loan of $4 million funded subject to conditions including equity raise condition
  - Effective: 2022-11-30
  source text: On November 30, 2022, the Company entered into an amendment letter (the “Amendment Letter”) to the Credit Agreement, dated as of August 10, 2022, by and among the Company, as the Borrower, and its subsidiaries, the financial institutions party thereto from time to time as lenders, and SWK Funding LLC, as agent (as amended by the letter agreement dated as of October 9, 2022, the letter agreement dated as of November 10, 2022, and the letter agreement dated as of November 21, 2022, the “Credit Agreement”). Pursuant to the Amendment Letter, the lenders under the Credit Agreement agreed to fund the additional term loan of $4 million (the “Subsequent Term Loan”), notwithstanding the fact that the specified operational and financial metrics required to be achieved by the Company for its availability have not been satisfied, so long as (i) the request to fund is made on or prior to December 16, 2022 (such funding date, the “Subsequent Funding Date”), (ii) no material adverse effect, default o
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922124337/0001104659-22-124337-index.htm
- Material Agreements
  ELUTIA INC. entered into Underwriting Agreement with Cantor Fitzgerald & Co. valued at public offering of 2,350,000 shares of Class A common stock at $4.75 per share, net proceeds approxi (effective 2022-12-01).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Cantor Fitzgerald & Co.
  - Value: public offering of 2,350,000 shares of Class A common stock at $4.75 per share, net proceeds approxi
  - Effective: 2022-12-01
  source text: On December 1, 2022, Aziyo Biologics, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Cantor Fitzgerald & Co., as underwriter (the “Underwriter”), in connection with the public offering, issuance and sale by the Company of 2,350,000 shares of the Company’s Class A common stock, $0.001 par value per share, at a public offering price of $4.75 per share, less underwriting discounts and commissions, pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-267197) and a related prospectus supplement filed with the Securities and Exchange Commission (the “Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922124337/0001104659-22-124337-index.htm

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