BUZZ-Allurion Tech dips on $6.1 million stock offering

Reuters
02-20
BUZZ-Allurion Tech dips on $6.1 million stock offering

** 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;))

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