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Elutia Inc. Raises Funds through Registered Direct Offering to Fuel Growth
Silver Spring-based company, Elutia Inc., recently announced a registered direct offering that is set to raise approximately $13.26 million for the company. The offering entails the purchase and sale of 3,175,000 shares of Elutia s Class A common stock, priced at $3.40 per share, along with 725,000 prefunded warrants at a purchase price of $3.399 per warrant. The prefunded warrants are exercisable immediately at an exercise price of $0.001 per warrant. Elutia aims to utilize the proceeds to fund various growth initiatives. The offering is anticipated to conclude by June 18, 2024, pending customary closing conditions.
Elutia Inc., a Nasdaq listed company (symbol: ELUT), has secured a definitive agreement with investors for the registered direct offering, signifying a significant milestone for the organization. The offering involves the sale of a considerable number of shares and warrants, presenting a lucrative opportunity for investors to support Elutia s strategic objectives. The purchase price for each share and prefunded warrant reflects the company s market value and the confidence of investors in its future prospects.
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