Elutia Inc. announced a private placement of 7,355,869 common shares and 11,033,804 pre funded warrants for the aggregate gross proceeds of $10.5 million on September 19, 2023. The transaction will include participation from new investor, Nantahala Capital Management, LLC, returning investor, HighCape Partners Management, L.P and other investor. The closing of the transaction is subject to certain conditions and is expected to occur on September 21, 2023.