secwatch.observer — SEC 8-K summary
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Issuer:     ELUTIA INC. (ELUT)
CIK:        0001708527
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001104659-23-118801
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Elutia closes Orthobiologics sale to Berkeley Biologics for ~$14.6M cash plus up to $20M earn-out
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- Sale completed Nov 8, 2023; initial cash payment of ~$14.6M after customary adjustments.
- Eligible for earn-out payments of 10% of annual revenue (capped at $20M) over 5 years.
- Repaid $2.0M of SWK credit facility at closing; additional $2.0M due by Feb 15, 2024.
- Entered 2-year manufacturing agreement with Berkeley for SimpliDerm product.
- Pro forma continuing ops: net loss $26.0M for 9mo 2023 (discontinued ops removed).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1708527/000110465923118801/0001104659-23-118801-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1708527/000110465923118801/tm2330673d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-118801

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