Elutia raises $10.5M in PIPE with up to $26.2M from warrants; plus divestiture >$60M total cash

ELUTIA INC.

Initial gross proceeds ~$10.5M from sale of 7.36M shares/pre-funded warrants and 11.03M common warrants.
Full exercise of warrants would add $15.8M, bringing total PIPE proceeds to $26.2M.
Combined with Orthobiologics divestiture (announced Sep 18), total cash added >$60M.
Warrants exercisable at $1.4275 until 30 trading days post-FDA clearance of CanGarooRM or 5 years.
Investors include existing HighCape Capital, new Nantahala Capital, and a life-sciences fund.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ELUTIA INC. entered into Securities Purchase Agreement with purchasers named therein valued at aggregate gross proceeds of approximately $10.5 million (effective 2023-09-18).

Action: entry
Agreement: equity purchase
Counterparty: purchasers named therein
Value: aggregate gross proceeds of approximately $10.5 million
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, Elutia Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the purchasers named therein (the “Investors”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ELUTIA INC. entered into Registration Rights Agreement with purchasers named therein valued at Company agreed to prepare and file a registration statement within 60 days after closing (effective 2023-09-21).

Action: entry
Counterparty: purchasers named therein
Value: Company agreed to prepare and file a registration statement within 60 days after closing
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023, in connection with the closing of the Offering, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with the Investors.

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ELUTIA INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-102812

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