Carmell Therapeutics closes acquisition of Elevai Skincare

Carmell Corporation announced the closing of the previously announced acquisition of the skin and hair care business of Elevai Skincare, a leader in physician dispensed exosome skin and hair care products, pursuant to a definitive purchase agreement with PMGC Holdings and Elevai, its wholly owned subsidiary. At the closing of the Acquisition (the “Closing”), the purchase consideration consisted of the following: Approximately $1.1 million of Carmell common stock at a price of $0.8488 per share as follows: 1,149,226 shares of Carmell common stock at Closing, plus; 117,814 shares of Carmell common stock held back by Carmell to secure indemnification obligations of PMGC and Elevai for 12 months after Closing;Approximately $57,000 in cash to be paid by Carmell upon the sale of specified inventory existing as of the Closing.