Elutia ( NASDAQ: ELUT ) has entered into a definitive agreement with investors for the purchase and sale of 3.18M shares of the Co.’s Class A common stock at a purchase price of $3.
40/share and 0.73M prefunded warrants to purchase up to 0.73M shares at a purchase price of $3.
399/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 ~$13.26M and intends to use the proceeds for working capital and other general corporate purposes. The offering is expected to close on or about June 18, 2024.
The Co. also announced that its Antibiotic-Eluting BioEnvelope, EluPro, has received clearance from the U.S.
FDA. The Co. also announced that EluPro was granted clearance for indications beyond the cardiac implantable electronic devices, including neurostimulators and neuromodulators used for pain management, epilepsy, incontinence, and sleep apnea.
These additional markets, estimated to be $8B worldwide, have not previously been served by a drug-eluting biomatrix and present significant additional growth opportunities for EluPro. ELUT -8.09% to $3.
52. More on Elutia Elutia, Inc. (ELUT) Q1 2024 Earnings Call Transcript Seeking Alpha’s Quant Rating on Elutia Historical earnings data for Elutia Financial information for Elutia.
