Elutia Announces $26M Private Placement Of 7,355,869 Shares Of Common Stock At $1.4275/Share
Portfolio Pulse from Benzinga Newsdesk
Elutia has announced a private placement of 7,355,869 shares of common stock at $1.4275 per share, raising $26 million in capital.
September 19, 2023 | 12:38 pm
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Elutia's private placement of over 7.3 million shares at $1.4275 each could dilute existing shareholders' equity.
The private placement will increase the number of outstanding shares, which could dilute the value of existing shares. However, the capital raised could be used for growth initiatives, potentially offsetting the dilution effect in the long term.
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