Eledon Pharmaceuticals Secures $50M Through Private Placement

An update from Eledon Pharmaceuticals (ELDN) is now available.

Eledon Pharmaceuticals, Inc. has initiated a private placement, selling over 13 million shares and pre-funded warrants, potentially raising about $50 million. The proceeds are earmarked for pre-commercial activities and other corporate needs. The shares and warrants sold haven’t been registered under the Securities Act but will be following a registration rights agreement. This move is accompanied by Eledon’s engagement of top-tier placement agents to facilitate the transaction.

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