Elicio Therapeutics raises $7M via private placement at $5.81/share to board-affiliated entity

Elicio Therapeutics, Inc.

Private placement of 1,213,000 shares at $5.81 per share to GKCC, LLC, controlled by a board member.
Gross proceeds of ~$7.0M; net proceeds for pipeline advancement, working capital, and general corporate purposes.
Closing expected on December 22, 2023, subject to customary conditions.
Company must file a resale registration statement with SEC by March 31, 2024.
Securities are unregistered; sold under Section 4(a)(2) and Rule 506 of Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Elicio Therapeutics, Inc. entered into Subscription Agreement with GKCC, LLC valued at approximately $7.0 million (effective 2023-12-22).

Action: entry
Agreement: equity purchase
Counterparty: GKCC, LLC
Value: approximately $7.0 million
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, Elicio Therapeutics, Inc. (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with GKCC, LLC (the “Purchaser”), an entity controlled by a director of the Company, providing for the issuance and sale by the Company to the Purchaser of an aggregate of 1,213,000 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a purchase price per Share of $5.81 (the “Offering”).

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Elicio Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001601485-23-000086

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