Jul. 2 at 3:43 PM
$ELTX
It’s a registered direct offering of common stock — a straightforward sale of ~4.38 million shares at a fixed price (~
$3.43 per share). No convertibles, no floating rates, and no variable share issuance tied to future price drops.
Pre-offering, shares outstanding were ~19.1 million. Adding ~4.38M brings it to roughly 23.5 million post-closing (expected ~July 6).
The buyers are two new fundamental institutional investors (new to the company’s shareholder base).⬆️
