Elutia regains Nasdaq MVLS compliance; board independence hearing remains

ELUTIA INC.

Received Nasdaq notice on Dec 22, 2023 that MVLS requirement met with market value above $35M for 10+ consecutive trading days.
Previous delisting appeal hearing set for Jan 25, 2024 no longer needed for MVLS issue.
Still non-compliant with Nasdaq Board Independence Rule; expects resolution in first week of January 2024.
Non-compliance with board rule does not immediately affect listing or trading of ELUT common stock.

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