secwatch.observer — SEC 8-K summary
======================================

Issuer:     Elicio Therapeutics, Inc. (ELTX)
CIK:        0001601485
Form:       8-K
Filed at:   2025-03-05T23:59:59+00:00
Accession:  0001601485-25-000018
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601485/000160148525000018/0001601485-25-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601485/000160148525000018/angn-20250305.htm
  HTML page:      https://secwatch.observer/filing/0001601485-25-000018

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