Eledon Pharmaceuticals Reports Unregistered Equity Sale
Ticker: ELDN · Form: 8-K · Filed: Oct 1, 2024 · CIK: 1404281
| Field | Detail |
|---|---|
| Company | Eledon Pharmaceuticals, Inc. (ELDN) |
| Form Type | 8-K |
| Filed Date | Oct 1, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $4.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-securities, equity-sale
TL;DR
Eledon sold unregistered stock, potentially impacting share value.
AI Summary
Eledon Pharmaceuticals, Inc. reported on September 30, 2024, the unregistered sale of equity securities. The company, formerly known as Novus Therapeutics, Inc. and Tokai Pharmaceuticals Inc., issued these securities without registration under the Securities Act of 1933.
Why It Matters
This filing indicates a sale of equity securities that were not registered with the SEC, which could have implications for the liquidity and dilution of existing shares.
Risk Assessment
Risk Level: medium — Unregistered equity sales can signal financial distress or a need for capital, potentially leading to dilution and increased risk for existing shareholders.
Key Players & Entities
- Eledon Pharmaceuticals, Inc. (company) — Registrant
- Novus Therapeutics, Inc. (company) — Former Name
- Tokai Pharmaceuticals Inc (company) — Former Name
- September 30, 2024 (date) — Date of earliest event reported
FAQ
What type of equity securities were sold unregistered?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided text.
What was the date of the earliest event reported in this 8-K?
The date of the earliest event reported is September 30, 2024.
What is Eledon Pharmaceuticals' principal executive office address?
The principal executive offices are located at 19800 MacArthur Blvd., Suite 250, Irvine, California, 92612.
What were Eledon Pharmaceuticals' former names?
Eledon Pharmaceuticals, Inc. was formerly known as Novus Therapeutics, Inc. and Tokai Pharmaceuticals Inc.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 451 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-10-01 16:30:10
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value ELDN Nasdaq Global Market
- $4.0 million — roceeds to the Company of approximately $4.0 million. The shares were sold pursuant to the e
Filing Documents
- eldn-20240930.htm (8-K) — 34KB
- 0000950170-24-110857.txt ( ) — 144KB
- eldn-20240930.xsd (EX-101.SCH) — 24KB
- eldn-20240930_htm.xml (XML) — 5KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. On September 30, 2024 and October 1, 2024, Eledon Pharmaceuticals, Inc. (the "Company") completed the sale of 1,527,400 and 200,000 shares, respectively, of its common stock, $0.001 par value per share, pursuant to a third closing contemplated under the Securities Purchase Agreement, dated April 28, 2023, by and among the Company and certain institutional and accredited investors. The sales resulted in gross proceeds to the Company of approximately $4.0 million. The shares were sold pursuant to the exemption from registration provided in Section 4(a)(2) under the Securities Act of 1933, as amended, and Rule 506(b) promulgated thereunder.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Eledon Pharmaceuticals, Inc. Date: October 1, 2024 By: /s/ David-Alexandre C. Gros, M.D. Name: David-Alexandre C. Gros, M.D. Title: Chief Executive Officer