Allurion to Raise Approximately $7.4 Million of Gross Proceeds in Offering Priced At-the-Market
January 24 2025 - 8:30AM
Business Wire
Allurion Technologies, Inc. (“Allurion” or the “Company”) (NYSE:
ALUR), a company dedicated to ending obesity, today announced that
it has entered into a definitive securities purchase agreement with
certain institutional investors for the purchase and sale of
1,240,000 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 1,240,000 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 $7.4 million, 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, 2025, subject to the satisfaction of customary closing
conditions.
The shares in the offering described above are being offered by
the Company pursuant to a shelf registration statement on Form S-3
(File No. 333-283721) previously filed with the Securities and
Exchange Commission (the ”SEC”) and declared effective by the SEC
on December 20, 2024. The offering is being made only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement, relating to the offering that
will be filed with the SEC. Electronic copies of the final
prospectus supplement and accompanying prospectus may be obtained,
when available, on the SEC’s website at http://www.sec.gov or by
contacting Roth Capital Partners, LLC at 888 San Clemente Drive,
Newport Beach CA 92660, by phone at (800) 678-9147 or by accessing
the SEC’s website, www.sec.gov.
The warrants sold in the private placement are being made in a
transaction not involving a public offering and have not been
registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state or other applicable jurisdiction’s
securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable
state or other jurisdictions’ securities laws.
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 offer, solicitation or sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Allurion
Allurion is dedicated to ending obesity. The Allurion Program is
a weight-loss platform that combines the Allurion Gastric Balloon,
the world’s first and only swallowable, procedure-lessTM gastric
balloon for weight loss, the Allurion Virtual Care Suite, including
the Allurion Mobile App for consumers and Allurion Insights for
healthcare providers featuring the Iris AI Platform, and the
Allurion Connected Scale. The Allurion Virtual Care Suite is also
available to providers separately from the Allurion Program to help
customize, monitor, and manage weight-loss therapy for patients
regardless of their treatment plan. The Allurion Gastric Balloon is
an investigational device in the United States.
For more information about Allurion and the Allurion Virtual
Care Suite, please visit www.allurion.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the U.S. federal and state securities laws.
These forward-looking statements generally are identified by the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “target,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions and include statements
regarding the expected completion, timing and size of the
registered direct offering of shares and concurrent private
placement of warrants, the anticipated use of proceeds of the
offering, and other statements about future events that reflect the
current beliefs and assumptions of Allurion’s management based on
information currently available to them and, as a result, are
subject to risks and uncertainties. Forward-looking statements are
predictions, projections and other statements about future events
that reflect the current beliefs and assumptions of Allurion’s
management based on information currently available to them and, as
a result, are subject to risks and uncertainties. Many factors
could cause actual future results or developments to differ
materially from the forward-looking statements in this press
release, including but not limited to (i) the ability of Allurion
to obtain regulatory approval for and successfully commercialize
the Allurion Program, (ii) the timing of and results from its
clinical studies and trials and its ability to initiate and
complete clinical studies, including the clinical study on the
combination of the Allurion Program with GLP-1 agonists, (iii) the
evolution of the markets in which Allurion competes and the rise of
GLP-1 drugs, (iv) the ability of Allurion to defend its
intellectual property and satisfy regulatory requirements, (v) the
impact of the COVID-19 pandemic, Russia-Ukraine war and
Israel-Hamas war on Allurion’s business, (vi) Allurion’s
expectations regarding its market opportunities, (vii) the outcome
of any legal proceedings against Allurion, (viii) the risk of
economic downturns and a changing regulatory landscape in the
highly competitive industry in which Allurion operates, and (ix)
uncertainties related to market conditions and the completion of
the offering on the anticipated terms or at all. The foregoing list
of factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of the Company’s Annual Report on
Form 10-K filed on March 26, 2026 and Amendment No. 1 thereto filed
on April 29, 2024, the Company’s Quarterly Report on Form 10-Q
filed on November 13, 2024 and other documents filed by Allurion
from time to time with the U.S. Securities and Exchange Commission.
These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Allurion assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Allurion
does not give any assurance that it will achieve its
expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20250124263516/en/
Global Media Hannah Lindberg hlindberg@allurion.com
Investor Contact Mike Cavanaugh, Investor Relations ICR
Westwicke (617) 877-9641 mike.cavanaugh@westwicke.com
Allurion Technologies (NYSE:ALUR)
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