SCHEDULE: Nantahala Capital Discloses 9.99% Stake in Elutia Inc.

Nantahala Capital Management, LLC, along with Wilmot B. Harkey and Daniel Mack, reported a 9.99% beneficial ownership stake in Elutia Inc.'s Class A Common Stock as of December 31, 2025.

Summary

• Nantahala Capital Management, LLC, Wilmot B. Harkey, and Daniel Mack (the "Reporting Persons") collectively reported beneficial ownership of 4,124,854 shares of Elutia Inc. Class A Common Stock.
• This ownership represents 9.99% of the total outstanding Class A Common Stock of Elutia Inc. as of December 31, 2025.
• The reported shares include 939,907 shares that can be acquired by the Reporting Persons within sixty days through the exercise of warrants.
• Nantahala Capital Management, LLC, a Massachusetts limited liability company, acts as an investment adviser.
• Wilmot B. Harkey and Daniel Mack, both U.S. citizens, are managing members of Nantahala Capital Management, LLC and are deemed beneficial owners of the shares.
• The Reporting Persons hold shared voting and shared dispositive power over all 4,124,854 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Elutia Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a standard disclosure of beneficial ownership by an institutional investor and does not contain performance metrics or strategic updates.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures by institutional investors holding significant, but passive, stakes in public companies. This filing indicates a continued passive investment by Nantahala Capital Management in Elutia Inc., consistent with typical investment fund activities rather than activist intentions.

Comparison to Industry Standards

• NA

Related Party Transactions

• BLACKWELL PARTNERS LLC SERIES A, a fund advised by Nantahala Capital Management, LLC, has the right to receive or direct dividends and proceeds from the sale of more than five percent of the outstanding common stock beneficially owned by Nantahala.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, confirming a passive investment stance by Nantahala Capital Management.

Key Dates

Keywords

Elutia Inc., Nantahala Capital Management, Beneficial Ownership, SEC Filing, Schedule 13G, Class A Common Stock, Institutional Investor, Investment Adviser