secwatch.observer — SEC 8-K summary
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Issuer:     Elicio Therapeutics, Inc. (ELTX)
CIK:        0001601485
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001140361-24-036848
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Elicio Therapeutics closes $20M convertible note private placement at $5.81 conversion price
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- Raised $20M via 3% senior secured convertible note due Feb 2026; net proceeds ~$19.7M.
- Conversion price $5.81 per share (~135% of Aug 9 close); subject to stockholder approval.
- Purchaser GKCC LLC is controlled by a board member (related-party transaction).
- Proceeds to be used for working capital and general corporate purposes.
- Note is secured by first-priority lien on substantially all assets and intellectual property.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601485/000114036124036848/0001140361-24-036848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601485/000114036124036848/ef20033947_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-036848

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