Carmell Announces PIPE Investment From Existing and New Investors To Support Commercial Build-out
Summary
PITTSBURGH, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (Carmell, the Company, we, our, or us), today announced that it entered into a securities purchase agreement with new and existing investors for the issuance and sale of 8,065,210 shares of its common stock and an equal number of five-year warrants, both priced at $0.23 per share, in a private placement for aggregate gross proceeds of $1.85 million before deducting offering expenses and fees (the Private Placement). The Private Placement was priced at a slight premium to the CTCX closing price on December 23, 2024.Said Mr. Rajiv Shukla, Chairman of Carmell, We are happy to announce an additional round of investment from existing and new investors to support the continued commercial build out of our revolutionary bio-aesthetics product pipeline.Following the closing of the Private Placement, Carmell will have approximately 29 million shares of common stock outstanding. The Carmell Secretome consists of a potent cocktail of growth factors and proteins extracted from allogeneic human platelets sourced from U.S. Food and Drug Administration-approved tissue banks. The Company has agreed to file a registration statement with the Securities and Exchange Commission (the SEC) registering the resale of the shares of its common stock sold in the Private Placement. In some cases, you can identify forward-looking statements by the following words: may, will, could, would, should, expect, intend, plan, anticipate, believe, estimate, predict, project, potential, continue, ongoing or the negative of these terms or other comparable terminology.