# EDGAR Filing Document

**Accession Number:** 0001957360
**File Stem:** 0001104659-26-009295
**Filing Date:** 2026-2
**Character Count:** 12861
**Document Hash:** 6739d58d3ff6c63ae713316811e59763
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-009295.hdr.sgml**: 20260202

**ACCESSION NUMBER**: 0001104659-26-009295

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260202

**DATE AS OF CHANGE**: 20260202

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** RAKIN KEVIN
- **CENTRAL INDEX KEY:** 0001184421

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39577
- **FILM NUMBER:** 26588788

**MAIL ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** HighCape Partners QP II, L.P.
- **CENTRAL INDEX KEY:** 0001770972

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39577
- **FILM NUMBER:** 26588785

**BUSINESS ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
- **BUSINESS PHONE:** 410-375-0050

**MAIL ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Highcape Partners QP II, L.P.
- **DATE OF NAME CHANGE:** 20190318
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** HighCape Partners GP II, LLC
- **CENTRAL INDEX KEY:** 0001957360

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39577
- **FILM NUMBER:** 26588787

**BUSINESS ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
- **BUSINESS PHONE:** (410) 375-0050

**MAIL ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** HighCape Partners GP II, L.P.
- **CENTRAL INDEX KEY:** 0001957359

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39577
- **FILM NUMBER:** 26588786

**BUSINESS ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
- **BUSINESS PHONE:** (410) 375-0050

**MAIL ADDRESS:**
- **STREET 1:** 36 CHURCH LANE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ELUTIA INC.
- **CENTRAL INDEX KEY:** 0001708527
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 474790334
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 12510 PROSPERITY DRIVE
- **STREET 2:** SUITE 370
- **CITY:** SILVER SPRING
- **STATE:** MD
- **ZIP:** 20904
- **BUSINESS PHONE:** 240-247-1143

**MAIL ADDRESS:**
- **STREET 1:** 12510 PROSPERITY DRIVE
- **STREET 2:** SUITE 370
- **CITY:** SILVER SPRING
- **STATE:** MD
- **ZIP:** 20904

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AZIYO BIOLOGICS, INC.
- **DATE OF NAME CHANGE:** 20170605

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>RAKIN KEVIN<br><sub>(Last) (First) (Middle)</sub><br>36 CHURCH LANE<br><sub>(Street)</sub><br>WESTPORT, CT 06880<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ELUTIA INC. [ ELUT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>HighCape Partners GP II, LLC<br><sub>(Last) (First) (Middle)</sub><br>36 CHURCH LANE<br><sub>(Street)</sub><br>WESTPORT, CT 06880<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ELUTIA INC. [ ELUT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>HighCape Partners GP II, L.P.<br><sub>(Last) (First) (Middle)</sub><br>36 CHURCH LANE<br><sub>(Street)</sub><br>WESTPORT, CT 06880<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ELUTIA INC. [ ELUT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>HighCape Partners QP II, L.P.<br><sub>(Last) (First) (Middle)</sub><br>36 CHURCH LANE<br><sub>(Street)</sub><br>WESTPORT, CT 06880<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-01-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ELUTIA INC. [ ELUT ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2026-01-30 |  | P |  | 70000 | A | 1.06<sup>(1)</sup> | 196120 | D |  |
| Class A Common Stock |  |  |  |  |  |  |  | 322419 | I | By trusts |
| Class A Common Stock |  |  |  |  |  |  |  | 4706559<sup>(2)</sup> | I | See footnotes<sup>(3)(4)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.05 to $1.08. The reporting person undertakes to provide Elutia Inc. ( the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

(2) Includes: (i) 4,562,431 shares of Class A Common Stock held of record by HighCape Partners QP II, L.P.; and (ii) 144,128 shares owned by other HighCape entities that are not reporting persons hereunder, but over whom Mr. Rakin may be deemed to exercise beneficial ownership in his capacity as managing member of the general partner of such entity or as managing member of the general partner of the general partner of such entity.

(3) Mr. Rakin is the managing member of HighCape Partners GP II, LLC, which is the general partner of HighCape Partners GP II, L.P., which is the general partner of HighCape Partners QP II, L.P. and another HighCape entity that owns shares of record but is not a reporting person hereunder. In addition, Mr. Rakin is a managing member of the general partner of another HighCape entity that owns shares of record but is not a reporting person hereunder.

(4) Mr. Rakin, HighCape Partners GP II, LLC and HighCape Partners GP II, L.P. may be deemed to beneficially own the securities held by HighCape Partners QP II, L.P. and the other entity for which HighCape Partners GP II, L.P. serves as general partner. Additionally, Mr. Rakin may be deemed to beneficially own the securities held by another HighCape entity by virtue of his serving as managing member of such entity's general partner. Each of the reporting persons disclaims beneficial ownership of the securities held by the other reporting persons and the non-reporting persons referred to herein except to the extent of each reporting person's pecuniary interest therein, if any.

**Remarks:**
The transaction is jointly reported by HighCape Partners GP II, LLC, HighCape Partners GP II, L.P., HighCape Partners QP II, L.P., and Kevin L. Rakin.

**Signature:** Jeffrey Hamet, Attorney-in-Fact for Kevin Rakin  
**Date:** 2026-02-02

**Signature:** HIGHCAPE PARTNERS GP II, LLC By: /s/ Kevin L. Rakin, Managing Member  
**Date:** 2026-02-02

**Signature:** HIGHCAPE PARTNERS QP II, L.P. By: HighCape Partners GP II, L.P., its general partner By: HighCape Partners GP II, LLC, its general partner By: /s/ Kevin L. Rakin, Managing Member  
**Date:** 2026-02-02

**Signature:** HIGHCAPE PARTNERS GP II, L.P. By: HighCape Partners GP II, LLC, its general partner By: /s/ Kevin L. Rakin, Managing Member  
**Date:** 2026-02-02

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**