Allurion Technologies to sell 1.24M shares at $6 in registered direct offering

Allurion Technologies (ALUR) announced that it has entered into a definitive securities purchase agreement with certain institutional investors for the purchase and sale of 1.24M shares of the company’s common stock at a price of $6.00 per share in a registered direct offering priced at-the-market under NYSE rules. In addition, in a concurrent private placement, the company will issue to the investors warrants to purchase up to 1.24M shares of common stock. The warrants have an exercise price of $6.00 per share, will become exercisable immediately following the date of stockholder approval and expire on the fifth anniversary of such approval. The company also agreed to obtain shareholder approval for the repricing of its outstanding warrants issued in its July 2024 offering of securities for investors in this offering that held such outstanding warrants, reducing the exercise price thereof to $6.00 per share. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the company from this offering are expected to be approximately $7.4M, before deducting the placement agent’s fees and other offering expenses payable by the company. The company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about January 27, subject to the satisfaction of customary closing conditions.