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