Elicio raises $6.0M via pre-funded warrants sale to board-member entity GKCC, LLC

Elicio Therapeutics, Inc.

Private placement of pre-funded warrants for 1,032,702 shares at $5.81 each; gross proceeds ~$6.0M.
Warrants exercisable at $0.01/share subject to 19.99% beneficial ownership cap unless stockholder approval obtained.
Purchaser GKCC, LLC is controlled by a member of Elicio's board of directors.
Closing expected March 19, 2024; proceeds for pipeline advancement and working capital.
Company must file resale registration statement with SEC by June 30, 2024.

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 $6.0 million (effective 2024-03-18).

Action: entry
Agreement: equity purchase
Counterparty: GKCC, LLC
Value: approximately $6.0 million
Effective: 2024-03-18

Exact text from the filing

On March 18, 2024, Elicio Therapeutics, Inc. (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with GKCC, LLC (the “Purchaser”), an entity controlled by a member of the board of directors of the Company, providing for the issuance and sale by the Company to the Purchaser of pre-funded warrants (the “Pre-Funded Warrants") to purchase up to 1,032,702 shares of common stock, par value $0.01 per share, of the Company (“Common Stock”), at a purchase price per Pre-Funded Warrant of $5.81 (the “Offering”).

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Elicio Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001601485-24-000015

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