Elutia Inc. (ELUT) has finalized a definitive agreement with investors concerning the acquisition and sale of 5,520,000 shares of its Class A common stock, priced at $2.50 per share. Additionally, the agreement includes 480,000 prefunded warrants, allowing the purchase of up to 480,000 shares of Class A common stock at a price of $2.499 per warrant, all within a registered direct offering. The total gross proceeds from this offering are anticipated to amount to approximately $15.0 million. The transaction is scheduled to close around February 4, 2025.
Elutia intends to allocate the proceeds from this offering towards working capital and other general corporate purposes.
