Allurion Tech dips on $6.1 million stock offering

Allurion Technologies

19/02/2025 18:41

** Shares of weight-loss biotech firm Allurion Technologies
 ALUR.N  fall 32.2% to $3.78
    ** ALUR says it is raising about $6.1 mln through a stock
offering and private placement
    ** Company will sell 900,000 shares of common stock at
$5.23/shr and issue warrants to purchase up to 1.8 mln shares
    ** Offering price is at a 6.3% discount to the stock's last
close
    ** Funds will be used to advance company's clinical
pipeline, including testing the effects of the Allurion Balloon
and GLP-1 therapy - ALUR
    ** Roth Capital Partners is acting as the exclusive
placement agent for the offering and private placement
    ** Company has 4.8 mln outstanding shares, with a market
capitalization of $26.8 mln, according to data compiled by LSEG
    ** Stock fell 87.8% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))