11:05 AM EST, 01/15/2025 (MT Newswires) -- Allurion Technologies ( ALUR/WS ) said Tuesday it has entered into a subscription agreement for a private placement of 841,751 of its shares at $2.97 per share to raise $2.5 million from funds affiliated with RTW Investments.

The placement includes an option for $10 million funding in additional tranches, according to Allurion ( ALUR/WS ).

The company said it expects to close the placement Wednesday, and gross proceeds will extend its runway through early 2026. The company intends to use the funds for working capital and other general corporate purposes.

Allurion ( ALUR/WS ) also reported preliminary Q4 and 2024 revenue of about $5.6 million and $32 million. Four analysts polled by FactSet expect $5.6 million and $32.1 million.

Shares of Allurion ( ALUR/WS ) were up 3.2% in recent Wednesday trading.

Price: 3.24, Change: +0.10, Percent Change: +3.18