ELUTIA INC. (ELUT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 87.45% of current shares
Recent Dilution: 1734.94% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
43M
Potential Supply
38M
Additional shares possible
Splits
None
Past 2 years

Summary

ELUT currently has 43M outstanding shares. with significant dilution risk as 37.6M authorized shares could dilute existing holders by 87.5%. The company has significantly diluted shareholders by 1734.94% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 43.0M shares outstanding

43M 38M
Mar 13, 2026

10-K filing | 41.4M shares outstanding

41M 38M
Nov 12, 2025

10-Q filing | 42.4M shares outstanding

42M 38M
Aug 14, 2025

10-Q filing | 4.3M shares outstanding

4.3M 38M
May 13, 2025

10-Q filing | 4.3M shares outstanding

4.3M 38M
May 08, 2025

8-K filing: Elutia Inc. issued 1,105,528 shares of Class A Common Stock to Ligand Pharmaceuticals to satisfy $2.2 million in royalty obligations and issued 50,000 shares of Class A Common Stock to lenders in consideration for an amendment to a credit agreement. ($2.2M proceeds)

41M 38M
Mar 18, 2025

S-3 filing: Elutia Inc. is offering up to $100,000,000 in the aggregate of Class A common stock, Class B common stock, preferred stock, and debt securities from time to time in one or more offerings for general corporate purposes.

41M 38M
Mar 11, 2025

10-K filing | 4.3M shares outstanding

4.3M 22M
Feb 04, 2025

8-K filing: Elutia Inc. completed a registered direct offering on February 4, 2025, selling 5,520,000 shares of Class A common stock at $2.50 per share and prefunded warrants to purchase up to 480,000 shares of Class A common stock at $2.499 per warrant, raising gross proceeds of approximately $15.0 million before deducting fees and expenses. ($15.0M proceeds)

4.3M 22M
Nov 14, 2024

10-Q filing | 4.3M shares outstanding

4.3M 22M
Aug 13, 2024

10-Q filing | 4.3M shares outstanding

4.3M 22M
Jun 18, 2024

8-K filing: Elutia Inc. completed a registered direct offering of 3,175,000 shares of Class A common stock and prefunded warrants to purchase up to 725,000 shares of Class A Common Stock for gross proceeds of approximately $13.26 million before deducting fees and expenses. ($13.26M proceeds)

4.3M 22M
May 13, 2024

10-Q filing | 4.3M shares outstanding

4.3M 22M
Mar 11, 2024

10-K filing | 4.3M shares outstanding

4.3M 22M
Nov 20, 2023

S-3 filing: Elutia Inc. is offering 18,577,644 shares of Class A common stock by selling securityholders via a shelf registration statement.

6.9M 22M
Nov 14, 2023

10-Q filing | 4.3M shares outstanding

4.3M 3.3M
Sep 21, 2023

8-K filing: Elutia Inc. sold 6,852,811 common units and 503,058 prefunded units at $1.4275 and $1.4265 per unit, respectively, for gross proceeds of $10.5 million. ($31.5M proceeds)

4.3M 3.3M
Aug 14, 2023

10-Q filing | 4.3M shares outstanding

4.3M 3.3M
May 12, 2023

10-Q filing | 11.9M shares outstanding

12M 3.3M
Mar 23, 2023

10-K filing | 11.8M shares outstanding

12M 3.3M
Dec 05, 2022

8-K filing: Aziyo Biologics, Inc. completed a public offering of 2,350,000 shares of Class A common stock at $4.75 per share, expecting net proceeds of approximately $9.84 million. ($11.16M proceeds)

4.3M 3.3M
Nov 14, 2022

10-Q filing | 4.3M shares outstanding

4.3M 3.3M
Aug 31, 2022

S-3 filing: Aziyo Biologics, Inc. may offer and sell up to $50,000,000 in the aggregate of Class A Common Stock, Class B Common Stock, Preferred Stock, Debt Securities, Warrants, and Units from time to time in one or more offerings.

4.3M 3.3M
Aug 15, 2022

10-Q filing | 4.3M shares outstanding

4.3M 3.3M
Aug 15, 2022

8-K filing: Aziyo Biologics, Inc. entered into a Credit Agreement with SWK Funding LLC on August 10, 2022, providing for a $21.0 million term loan, an additional $4.0 million term loan tranche, and an $8.0 million asset-based revolving facility; and issued a warrant to SWK Funding LLC to purchase up to 187,969 shares of Class A common stock at $6.65 per share, subject to adjustments for stock splits and dividends.

4.3M 3.3M
May 10, 2022

10-Q filing | 4.3M shares outstanding

4.3M 3.3M
Mar 08, 2022

10-K filing | 9.2M shares outstanding

9.2M 3.3M
Jan 21, 2022

8-K filing: Aziyo Biologics, Inc. entered into amendments to its credit and security agreements and sold shares of Class A and Class B common stock to investors, resulting in gross proceeds of approximately $14.0 million. ($28.0M proceeds)

3.1M 3.3M
Jan 21, 2022

S-3 filing: This S-3 filing relates to the offering of 3,301,881 shares of Class A common stock by selling securityholders. 2,122,637 shares are presently issued and outstanding and 1,179,244 shares are issuable upon conversion of presently issued and outstanding shares of Class B common stock. The selling securityholders may offer and sell these shares from time to time.

9.2M 3.3M
Dec 08, 2021

8-K filing: Aziyo Biologics, Inc. sold 2,122,637 shares of Class A common stock and 1,179,244 shares of Class B common stock at $4.24 per share for gross proceeds of $14.0 million in a completed offering. ($14.0M proceeds)

3.1M 0
Nov 10, 2021

10-Q filing | 3.1M shares outstanding

3.1M 0
Aug 10, 2021

10-Q filing | 3.1M shares outstanding

3.1M 0
May 07, 2021

10-Q filing | 7.1M shares outstanding

7.1M 0
Mar 15, 2021

10-K filing | 7.1M shares outstanding

7.1M 0
Nov 20, 2020

10-Q filing | 7.1M shares outstanding

7.1M 0
Oct 13, 2020

8-K filing: Aziyo Biologics, Inc. filed a restated certificate of incorporation in connection with the closing of its IPO, authorizing 200,000,000 shares of Class A common stock and 20,000,000 shares of Class B common stock and also closed an IPO issuing 2,205,882 shares of Class A common stock and 735,294 shares of Class B common stock at $17.00 per share. ($50.0M proceeds)

N/A 0
Sep 30, 2020

S-1/A filing: This is an S-1/A filing for an offering of Class A common stock underwritten by Piper Sandler, Cowen, Cantor, and Truist Securities.

N/A 0
Sep 14, 2020

S-1 filing: This is an S-1 filing for an initial public offering of Class A common stock underwritten by Piper Sandler, Cowen, Cantor, and Truist Securities.

N/A 0
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