Elicio Therapeutics (ELTX) Prices $11.5M Offering at $5/sh

Elicio Therapeutics, Inc. (Nasdaq: ELTX) today announced the pricing of an approximately $11.5 million underwritten public offering of its common stock (or pre-funded warrants to purchase common stock in lieu thereof), and accompanying common warrants to purchase common stock, before deducting underwriting discounts and commissions and estimated offering expenses payable by Elicio.

The offering consists of (i) 500,000 shares of common stock and accompanying common warrants to purchase up to 500,000 shares of common stock at a per share exercise price of $5.00, at a combined public offering price of $5.00 per share and accompanying common warrant and (ii) to certain investors in lieu of common stock, pre-funded warrants to purchase up to 1,800,000 shares of common stock at a per share exercise price of $0.01 and accompanying common warrants to purchase up to 1,800,000 shares of common stock at a per share exercise price of $5.00, at a combined public offering price of $4.99 per pre-funded warrant and accompanying common warrant, which represents the per share combined purchase price for the common stock and accompanying common warrants less the $0.01 per share exercise price for each such pre-funded warrant. The accompanying common warrants will be immediately exercisable for shares of common stock and will expire on the five-year anniversary of the date of issuance. All of the shares of common stock, accompanying common warrants and pre-funded warrants are being offered by Elicio. The offering is expected to close on or about July 1, 2024, subject to the satisfaction of customary closing conditions.

Elicio intends to use the net proceeds from this offering together with its existing cash, cash equivalents and marketable securities, for the advancement of its development pipeline, as well as for working capital and general corporate purposes.

Jones is acting as the sole book-running manager for the offering.

A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and became effective on June 11, 2024. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on June 27, 2024. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from JonesTrading Institutional Services LLC (“Jones”), Attention: Equity Capital Markets, 325 Hudson Street, 6th Floor New York, New York 10013; email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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