Elutia Announces $13.26M Registered Direct Offering Of 3.175M Shares Of Class A Stock At $3.40/Share And 725K Prefunded Warrants To Purchase 725K Shares At $3.399/Share.
Portfolio Pulse from Benzinga Newsdesk
Elutia has announced a $13.26 million registered direct offering, which includes 3.175 million shares of Class A stock priced at $3.40 per share and 725,000 prefunded warrants to purchase shares at $3.399 per share.
June 17, 2024 | 12:03 pm
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Elutia has announced a $13.26 million registered direct offering, which includes 3.175 million shares of Class A stock priced at $3.40 per share and 725,000 prefunded warrants to purchase shares at $3.399 per share.
The announcement of a registered direct offering typically leads to a short-term decrease in stock price due to dilution concerns. Investors may react negatively to the increase in the number of shares available.
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