Core Viewpoint - Carmell Corporation has successfully closed a private placement, raising $1.85 million through the issuance of 8,065,210 shares of common stock and an equal number of five-year warrants, priced at $0.23 per share, to enhance its financial position and support future growth initiatives [1][4]. Company Overview - Carmell Corporation is a bio-aesthetics company focused on skin and hair health, utilizing the Carmell Secretome™, which consists of growth factors and proteins from allogeneic human platelets [6]. - The company has developed a novel microemulsion formulation that avoids harmful excipients commonly used in cosmetic products, aiming to deliver effective skin and hair care solutions [6]. Private Placement Details - The private placement was conducted under a securities purchase agreement dated December 23, 2024, and the shares issued will be eligible for resale once the SEC declares the registration statement effective [2][7]. - The company plans to use the proceeds from the private placement to support the acquisition of Elevai Skincare and to enhance its product development and commercialization efforts [4]. Warrants Information - The warrants issued in the private placement can be exercised for cash, potentially generating an additional $1.85 million in gross proceeds for the company [3][4]. - The exercise price for the warrants is set at $0.23 per share, and they can be exercised any time after stockholder approval until the fifth anniversary of the issue date [4]. Placement Agent - Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as the exclusive placement agent for the private placement [5].
Carmell Announces Closing of Previously Announced PIPE Investment from Existing and New Investors to Support Commercial Build-out