Allurion Closes Offering and Private Placement to Advance GLP-1 Pipeline
Allurion Technologies, Inc. (NYSE: ALUR), a company focused on ending obesity, announced the successful closing of its previously announced registered direct offering. The offering involved institutional investors purchasing 900,000 shares of the Company’s common stock at a price of $5.23 per share. In addition, warrants to purchase up to 1,800,000 shares of common stock were issued in a concurrent private placement. These warrants have an exercise price of $5.23 per share and will become exercisable immediately after receiving stockholder approval. The warrants will expire five years after the approval date. This offering includes both the registered direct offering of common stock and the concurrent private placement of warrants.
Allurion Technologies, Inc. (NYSE: ALUR), a company committed to tackling obesity, has successfully closed its previously announced registered direct offering and concurrent private placement. In the offering, institutional investors purchased 900,000 shares of the Company’s common stock at a price of $5.23 per share. Additionally, the offering included warrants to purchase up to 1,800,000 shares of common stock. These warrants, priced at $5.23 per share, will become exercisable immediately after stockholder approval and will expire on the fifth anniversary of the approval date.
Alongside the registered direct offering, the company also completed a concurrent private placement with funds affiliated with Leavitt Equity Partners. This placement involved the purchase of 267,686 shares of common stock and warrants to purchase up to 535,372 additional shares, again priced at $5.23 per share. Roth Capital Partners served as the exclusive placement agent for both the offering and the concurrent private placement.
The aggregate gross proceeds from these transactions amount to approximately $6.1 million, before deducting placement agent fees and other offering-related expenses. Allurion intends to use the net proceeds from the offering and the private placement for various purposes, including funding its clinical pipeline.
Specifically, the company will use these funds to advance its testing on the effects of combining the Allurion Balloon with GLP-1 therapy, focusing on muscle mass and long-term GLP-1 adherence. Additionally, the proceeds will be allocated to working capital and general corporate purposes.
“We are excited to raise these funds to support critical initiatives at Allurion, particularly our ongoing clinical trials related to GLP-1s,” said Dr. Shantanu Gaur, the Founder and CEO of Allurion. “We strongly believe that combining GLP-1s with the Allurion Balloon will make GLP-1 therapies more effective for long-term treatment and patient success.”
The shares involved in this offering were made available pursuant to a shelf registration statement on Form S-3 (File No. 333-283721), which had previously been filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on December 20, 2024. A final prospectus supplement outlining the terms of the offering has been filed with the SEC. Electronic copies of the prospectus and supplement can be obtained on the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach, CA 92660, or by calling (800) 678-9147.
It is important to note that the warrants sold in this offering, as well as the securities sold in the concurrent private placement, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the laws of any state or other jurisdiction. Therefore, these securities may not be offered or sold within the United States unless they are registered or qualify for an exemption from the registration requirements under the Securities Act and applicable state or other jurisdictions’ laws.
This press release is not an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer or sale of securities in any jurisdiction where such an offer or sale would be unlawful.
About Allurion
Allurion is dedicated to ending obesity through its innovative weight-loss platform, the Allurion Program. This program combines several elements, including the Allurion Gastric Balloon, the world’s first and only swallowable, procedure-less gastric balloon for weight loss. The Allurion Virtual Care Suite, which includes the Allurion Mobile App for consumers and Allurion Insights for healthcare providers featuring the Iris AI Platform, provides a comprehensive tool for both patients and healthcare professionals. The program is complemented by the Allurion Connected Scale, further enhancing the patient’s weight-loss journey.
In addition to the full Allurion Program, the Allurion Virtual Care Suite is also available separately to healthcare providers to help them customize, monitor, and manage weight-loss therapy for their patients, regardless of their treatment plan.
It’s important to note that the Allurion Gastric Balloon is an investigational device in the United States, with ongoing clinical trials to establish its effectiveness and safety. Allurion remains committed to making obesity treatment more accessible and effective for individuals around the world.
