Elutia Announces Direct Offering - Quick Facts

(RTTNews) - Elutia Inc. (ELUT) has entered into a definitive agreement with investors for the purchase and sale of 5,520,000 shares of the companys class A common stock at a purchase price of $2.50 per share and 480,000 prefunded warrants to purchase up to 480,000 shares of class A common stock at a purchase price of $2.499 per prefunded warrant in a registered direct offering. The gross proceeds to Elutia from the offering are expected to be approximately $15.0 million. The offering is expected to close on or about February 4, 2025.

Elutia plans to use the proceeds from the proposed offering for working capital and other general corporate purposes.