Eledon Pharmaceuticals (ELDN) Announces $50M Placement at $2.37/sh
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Eledon Pharmaceuticals Announces Oversubscribed $50 Million Private Placement
May 7, 2024 7:00 AM EDTIRVINE, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (Eledon) (NASDAQ: ELDN) today announced that it has entered into a securities purchase agreement with certain institutional and accredited healthcare investors for a private investment in public equity financing that is expected to result in gross proceeds of approximately $50 million, before deducting offering expenses. Pursuant to the terms of the securities purchase agreement, Eledon is selling an aggregate of 13,110,484 shares of its common stock ("Common Stock") at a price of $2.37 per share and pre-funded warrants at a price of $2.369 per underlying share, which are... More
