Elutia announces $13.26 million registered direct offering

Silver spring, md., june 17, 2024 (globe newswire) -- elutia inc. (nasdaq: elut) (“elutia” or the “company”) today announced it has entered into a definitive agreement with investors for the purchase and sale of 3,175,000 shares of the company's class a common stock at a purchase price of $3.40 per share and 725,000 prefunded warrants to purchase up to 725,000 shares of the company's class a common stock at a purchase price of $3.399 per prefunded warrant in a registered direct offering. the prefunded warrants are immediately exercisable at an exercise price of $0.001 per each prefunded warrant. the gross proceeds to elutia from the offering are expected to be approximately $13.26 million, before deducting placement agent fees and other offering expenses payable by elutia. the offering is expected to close on or about june 18, 2024, subject to customary closing conditions.
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