Tiger Brokers

BUZZ-Allurion Tech dips on $6.1 million stock offering

Reuters
Feb 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10