Elicio Therapeutics (ELTX) settles $20M convertible note, issues 3.5M shares

Elicio Therapeutics, Inc.

Converted $20M 3.0% Senior Secured Convertible Note due Feb 2026 into 3,500,573 common shares on March 5, 2025.
Shares issued to GKCC, LLC, an entity controlled by a board member; exemption under Section 3(a)(9) of Securities Act.
Conversion triggered by stock price closing at or above 135% of $5.81 conversion price for 20 of 30 trading days.
Post-conversion shares outstanding increased to 15,861,913, diluting prior holders by approximately 28%.
Note originally issued in August 2024; conversion eliminates remaining principal and accrued interest.

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