Elutia Inc. Enters Material Definitive Agreement
Ticker: ELUT · Form: 8-K · Filed: Oct 3, 2024 · CIK: 1708527
| Field | Detail |
|---|---|
| Company | Elutia Inc. (ELUT) |
| Form Type | 8-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $25.0 million, $62,500, $112,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Elutia Inc. just signed a big deal on 9/30/24, expect financial updates.
AI Summary
Elutia Inc. entered into a material definitive agreement on September 30, 2024, related to a direct financial obligation. The company, formerly known as Aziyo Biologics, Inc., is incorporated in Delaware and headquartered in Silver Spring, MD.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Elutia Inc., which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce financial risks if not managed properly.
Key Players & Entities
- ELUTIA INC. (company) — Registrant
- Aziyo Biologics, Inc. (company) — Former company name
- September 30, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Silver Spring, MD (location) — Business address
FAQ
What is the nature of the material definitive agreement entered into by Elutia Inc. on September 30, 2024?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.
What was Elutia Inc. formerly known as?
Elutia Inc. was formerly known as Aziyo Biologics, Inc.
When was the name change from Aziyo Biologics, Inc. to Elutia Inc.?
The date of the name change was June 5, 2017.
Where is Elutia Inc. headquartered?
Elutia Inc. is headquartered at 12510 Prosperity Drive, Suite 370, Silver Spring, MD 20904.
What is the fiscal year end for Elutia Inc.?
Elutia Inc.'s fiscal year ends on December 31.
Filing Stats: 667 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-10-03 16:05:26
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value per share ELUT The Nasdaq
- $25.0 million — red term loan in an aggregate amount of $25.0 million (the "Term Loan"). The Amendment, among
- $62,500 — ded prior to such termination date plus $62,500 to (b) 6.50% of the aggregate amount of
- $112,500 — ded prior to such termination date plus $112,500. The foregoing summary of the Amendmen
Filing Documents
- tm2425497d1_8k.htm (8-K) — 32KB
- tm2425497d1_ex10-1.htm (EX-10.1) — 673KB
- tm2425497d1_ex10-1img001.jpg (GRAPHIC) — 35KB
- tm2425497d1_ex10-1img002.jpg (GRAPHIC) — 170KB
- tm2425497d1_ex10-1img003.jpg (GRAPHIC) — 201KB
- tm2425497d1_ex10-1img004.jpg (GRAPHIC) — 231KB
- tm2425497d1_ex10-1img005.jpg (GRAPHIC) — 243KB
- tm2425497d1_ex10-1img006.jpg (GRAPHIC) — 234KB
- tm2425497d1_ex10-1img007.jpg (GRAPHIC) — 276KB
- tm2425497d1_ex10-1img008.jpg (GRAPHIC) — 291KB
- tm2425497d1_ex10-1img009.jpg (GRAPHIC) — 227KB
- tm2425497d1_ex10-1img010.jpg (GRAPHIC) — 224KB
- tm2425497d1_ex10-1img011.jpg (GRAPHIC) — 191KB
- 0001104659-24-105839.txt ( ) — 4212KB
- elut-20240930.xsd (EX-101.SCH) — 3KB
- elut-20240930_lab.xml (EX-101.LAB) — 33KB
- elut-20240930_pre.xml (EX-101.PRE) — 22KB
- tm2425497d1_8k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 30, 2024, Elutia Inc., a Delaware corporation (the "Company"), entered into a Third Amendment (the "Amendment") to that certain Credit Agreement, dated as of August 10, 2022, by and among the Company, as Borrower, SWK Funding LLC, as Agent, and the lenders from time to time party thereto (as amended and supplemented from time to time, the "SWK Facility"). The SWK Facility provides for a senior secured term loan in an aggregate amount of $25.0 million (the "Term Loan"). The Amendment, among other things: (i) deferred the commencement of principal repayment under the SWK Facility from November 15, 2024 to November 15, 2025, (ii) extended the date until which the Company may elect a portion of the interest due under the SWK Facility to be paid in-kind from November 15, 2024 to November 15, 2025, and (iii) modified the exit fee upon termination of the SWK Facility from (a) 6.50% of the aggregate amount of Term Loan funded prior to such termination date plus $62,500 to (b) 6.50% of the aggregate amount of Term Loan funded prior to such termination date plus $112,500. The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 10.1 Third Amendment to Credit Agreement, dated September 30, 2024, by and among Elutia Inc., SWK Funding LLC, as Agent, and the Lenders from time to time party thereto.
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. ELUTIA INC. (Registrant) Date: October 3, 2024 By: /s/ Matthew Ferguson Matthew Ferguson Chief Financial Officer