Core Viewpoint - Carmell Corporation has successfully completed the acquisition of Elevai Skincare's skin and hair care business, which is expected to enhance its product portfolio, expand its market presence, and improve cash flow [1][2]. Group 1: Acquisition Details - The acquisition includes approximately $1.1 million worth of Carmell common stock at a price of $0.8488 per share, with 1,149,226 shares issued at closing and 117,814 shares held back for indemnification obligations [6]. - Carmell will also pay approximately $57,000 in cash for specified inventory and assume Elevai's contractual liabilities and trade payables [6]. - The deal includes a 5% annual payment of net sales from Elevai's existing products for five years and a one-time milestone payment of $500,000 if Elevai's hair and scalp products achieve $500,000 in net revenue within 24 months [6]. Group 2: Strategic Benefits - The acquisition is expected to provide significant organizational synergies and savings from overhead rationalization [2]. - It will expand Carmell's bio-aesthetic product portfolio, broaden its commercial footprint, and improve cash flow [2]. Group 3: Company Background - Carmell Corporation focuses on skin and hair health using the Carmell Secretome™, which consists of growth factors and proteins from allogeneic human platelets [5]. - The company has developed a novel microemulsion formulation that avoids potentially harmful excipients commonly used in cosmetic products [5].
Carmell Announces Closing of Elevai Skincare Acquisition